- Centurion's FY24 revenue/adjusted PATMI beat our expectations, at 106%/105% of our FY24e estimates. Revenue and adjusted PATMI growth were driven by higher rental rates and high occupancies maintained for worker and student accommodations.
- - Read this at SGinvestors.io -
- Centurion is also exploring a REIT listing that would include both worker and student accommodations, though more details have yet to be finalized.
The Positives
Worker accommodation segment still has room for growth.
- - Read this at SGinvestors.io -
- Overall rental rates in Singapore are expected to moderate but remain higher than FY24 as growth will still come from prevailing rental reversions for typical one-year leases in worker accommodations.
Student accommodation continues to perform well.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Yik Ban Chong Phillip Securities Research | https://www.poems.com.sg/ 2025-03-07
Previous report by Phillip:
2024-12-02 Centurion - New Dormitory As Growth Driver.
Price targets by 2 other brokers at Centurion Target Prices.
Listing of research reports at Centurion Analyst Reports.
Relevant links:
Centurion Share Price History,
Centurion Announcements,
Centurion Dividend Payout Dates & Corporate Actions,
Centurion News
