Centurion - Phillip Securities 2026-03-12: Preparing For Scalable Fee Income

• Centurion (SGX:OU8)'s 2H25 revenue exceeded our expectations, at 105% of our FY25 forecasts, driven by revenue contribution from the remaining 55% stake in the 6,290-bed Westlite Mandai consolidated in 2H25.
• - Read this at SGinvestors.io -
• In 4Q25, Centurion recognised S$6.5mil revenue and S$3.2mil PATMI (49% profit margin) from property management fees of CAREIT. CAREIT has several portfolio pipelines upcoming in FY26e, and we estimate CAREIT’s FY26e revenue to increase by 25% y-o-y. FY26e PATMI recognised in property management fees by Centurion is estimated to increase by 25% y-o-y (full year basis) to ~SS$16mil (15% of FY25 adj. PATMI).
• - Read this at SGinvestors.io -

The Positives

2H25 Singapore PBWA revenue increases 24% y-o-y to S$113mil.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Previous report by Phillip:
2025-11-17 Centurion - Portfolio Expansion Drives Longer-term Growth.

Price targets by 4 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