Centurion Q4 net profit soars to S$53.1m on net fair-valuation gains

NET fair-valuation gains helped lift net profit for worker and student accommodation provider Centurion Corp for its fiscal fourth quarter ended Dec 31, which jumped to S$53.1 million from the year-ago period's S$5.8 million.This was on the back of a S$48.6 million in net fair-valuation gains from its student accommodation in the UnitedKingdom.

For the three months ended Dec 31, revenue fell 6.7 per cent to S$31.3 million from the preceding year, mostly because of the lease expiry of Westlite Tuas, which ceased operations in December 2017. Earnings per share leapt to 6.32 Singapore cents from 0.73 Singapore cent in the previous year.For the full fiscal year, the group saw net profit rise to S$79.3 million, as compared to S$31.72 million previously.The Board has recommended a final dividend of one Singapore cent per share.

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