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Centurion Q4 profit down 27% to S$9.3m

CENTURION Corporation has posted a 27 per cent fall in net profit to S$9.3 million for the fourth quarter ended Dec 31, 2017, down from S$12.8 million a year ago.

This was in line with a 4 per cent fall in revenue from S$35 million to S$33.6 million this year, due mainly to a reduced contribution from Westlite Tuas in Singapore, said Centurion.

The company - which owns, develops and manages quality accommodation assets - added that administrative expenses for the fourth quarter were higher by S$3.2 million year-on-year, attributable to the one-off professional fees of S$2.6 million relating to the dual primary listing of the group's ordinary shares on the mainboard of the Stock Exchange of Hong Kong. Other additional administrative expenses of S$0.6 million were incurred from the group's expanded business operations, Centurion said.

Earnings per share came up to 0.73 Singapore cent for the quarter, compared to 0.40 cent in the previous year.

The board has recommended a final dividend of one Singapore cent per share and a special dividend of 0.5 cent per share, bringing total dividend payout for the 2017 financial year to 2.5 cents.