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Centurion Corporation Q3 profit up 6%

Monday, November 14, 2016 - 21:03

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WELL-PERFORMING worker and student accommodation businesses boosted results for Centurion Corporation in its third quarter.

WELL-PERFORMING worker and student accommodation businesses boosted results for Centurion Corporation in its third quarter.

Net profit grew 6 per cent to S$7.8 million from the previous year, the group said in a Singapore Exchange filing on Monday evening.

For the three months ended Sept 30, 2016, revenue increased 14 per cent to S$28.1 million from the previous year. The expansion in revenue was due mainly to its accommodation business which grew 18 per cent year on year, it said.

Earnings per share crept up to 1.06 Singapore cents from 0.97 Singapore cent in the preceding year.

Its CEO Kong Chee Min said the student accommodation sector remains a bright spot, attracting institutional investors and sovereign wealth funds looking for stable yields.

"We have seen positive rental reversions for our assets in the UK and Australia, and continue to be on the lookout for selective investment opportunities," he said.

sentifi.com

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