Absence of one-time gain drags down Centurion Q1 profit

Singapore

CENTURION Corporation's first-quarter net profit plunged 58 per cent year-on-year to S$9.43 million.

Core operations were healthy as revenue climbed 44 per cent to S$25.3 million, buoyed by strong performance of the group's accommodation business.

But share of profit of associated companies and joint ventures plummeted 92 per cent to S$1.54 million. "In Q1 2015, share of the results of associated companies decreased by S$17.2 million, as the group recorded a one-off gain of S$17.3 million from the sale of industrial factory units at MSpace, an indust…