Centurion Corp’s 4Q earnings fell sharply by 90% to $7.5 million on lower gains.
The group recorded a fair valuation gain of $40.3 million in 4QFY2014, compared to only $3.6 million this quarter.
The worker dormitory operator’s 4Q revenue increased 8% to $28.3 million, largely backed by its accommodation business, which grew 13% to $27.3 million in the quarter.
This came on the back of Westlite Woodlands workers accommodation obtaining temporary occupation permit in July last year, as well as higher rental rate and occupancy in its other accommodation assets.
Its optical disc business’ revenue fell by $1 million due to reduced market demand for physical optical disc storage media.
Looking ahead, the group expects overall occupancy rates for its assets to stay healthy, while it looks for opportunities to expand in existing and new markets.
The group recommended a final dividend of one cent. It earlier declared an interim dividend of 0.5 cent a share.
Centurion ended unchanged at 36 cents on Monday.
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The group recorded a fair valuation gain of $40.3 million in 4QFY2014, compared to only $3.6 million this quarter.
The worker dormitory operator’s 4Q revenue increased 8% to $28.3 million, largely backed by its accommodation business, which grew 13% to $27.3 million in the quarter.
This came on the back of Westlite Woodlands workers accommodation obtaining temporary occupation permit in July last year, as well as higher rental rate and occupancy in its other accommodation assets.
Its optical disc business’ revenue fell by $1 million due to reduced market demand for physical optical disc storage media.
Looking ahead, the group expects overall occupancy rates for its assets to stay healthy, while it looks for opportunities to expand in existing and new markets.
The group recommended a final dividend of one cent. It earlier declared an interim dividend of 0.5 cent a share.
Centurion ended unchanged at 36 cents on Monday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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