Centurion stays upbeat on demand; profit down on lack of one-off gains

Singapore

CENTURION Corp remains confident of the demand for purpose-built worker accommodation both in Singapore and Malaysia despite a softening economy and, in the case of Malaysia, unclear government policies on foreign labour.

The group posted a net profit attributable to equity-holders of $7.5 million for the fourth quarter ended Dec 31, 2015, down 90 per cent, as fair-value gains on investment properties and share of results of associated companies and joint ventures fell sharply. In terms of core business operations, net profit dipped 9 per cent, from S$10.1 million to S$9.2 million. Revenue for the quarter rose 8 per cent to S$28.3 million.