Stocks to watch: Centurion Corp, Procurri Corp

THE following companies saw new developments that may affect trading of their shares on Thursday:

Centurion Corporation: Centurion has obtained conditional permission to reconstruct an existing block at Westlite Toh Guan, and the workers and students accommodation developer will seek to extend the existing lease on the project by 25 years. In a filing with the Singapore Exchange on Tuesday, Centurion said it had received outline permission from the Urban Redevelopment Authority (URA) to reconstruct an existing block at Westlite Toh Guan to an eight-storey workers dormitory and industrial training centre. The outline permission from URA is subject to certain conditions. This includes approvals from various government authorities, and the payment of a development premium to be agreed with the Singapore Land Authority. The counter closed flat at S$0.435 on April 30.

Procurri Corporation: Procurri on Thursday posted a 75 per cent rise in net profit to S$1.8 million for the first quarter ended March 31, up from S$1 million a year ago. This comes on the back of higher contributions from its IT distribution and lifecycle services segments, the enterprise hardware supplier said. Earnings per share rose to 0.62 Singapore cent, from 0.35 cent the year prior. No dividend was declared, similar to a year ago. Revenue for the quarter rose 8.7 per cent to S$53.8 million, from S$49.5 million a year ago. The group also saw a 5.1 per cent rise in its IT distribution segment to S$35.7 million, from S$34 million the year before, thanks to its North and South America market. Procurri shares closed at S$0.33 on April 30, up 1.5 per cent, or 0.5 Singapore cent.