Centurion Corp's Q4 net profit swells to S$72.9m on fair value gains

Singapore

CENTURION Corporation's net profit for the fourth quarter ended December soared to S$72.9 million from S$26.9 million a year ago, bumped up by a S$40.3 million fair value gain on its investment properties.

This was on the back of revenue jumping 74 per cent, from S$15.0 million to S$26.1 million. The boost in revenue was due in part to its four newly acquired student accommodation assets in the United Kingdom, and an increase in capacity of its workers accommodation. The group's revenue from its accommodation business grew by 90 per cent to hit S$24.1 million in Q4.