Centurion Corp expects 'substantial increase' in FY2024 earnings from fair value gains

The Edge Singapore

16 Feb

The company, which is trying to spin off a REIT, reported earnings of $175.9 million for its FY2023.

Centurion Corporation expects its FY2024 earnings to see a "substantial increase" over the preceding FY2023 ended Dec 31, 2023, thanks to net fair value gain on its investment properties.

The operator of workers' and students' dormitories had reported earnings of $175.9 million for its FY2023, itself a substantial increase of 131% over the preceding FY2022's $76.3 million.

The company has on Jan 7 announced plans to spin off a separate REIT listing of its portfolio.

Centurion shares closed at $1.01 on Feb 14, down 0.98% for the day but up 140.48% in the past 12 months.

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