Centurion Corp has reported earnings of $43.9 million for 2HFY2021, reversing from red ink of $3.8 million in the year earlier. Revenue in the same period was up 27% y-o-y to $78.3 million.
For the full year, the dormitory operator reported earnings of $52.7 million, up 207% y-o-y, revenue, meanwhile, was up 11% to $143 million.
The company attributes the better numbers to better occupancy of its dormitories – both workers’ and students’.
Nevertheless, the bulk of the improvement in the bottomline is because of a fair value loss $3.1 million booked for FY2021, versus a loss of $27.6 million booked for FY2020.
According to Centurion, the higher value was accorded in FY2021 was to its students’ accommodation portfolio in the UK.
“We delivered better results in FY 2021 with the gradual recovery in several markets but challenges remain as the markets transition to living with an endemic Covid-19,” says CEO Kong Chee Min.
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“As we continually calibrate with present and future pandemic management measures we will remain focused on carrying out our core mission to be a caring accommodation provider to provide for the wellbeing of our residents,” he adds.
The company plans to pay a final dividend of 0.5 cent for FY2021. It didn’t pay any for FY2020.
Centurion Corp shares closed Feb 24 at 36 cents, down 2.7% for the day but up 9.09% year to date.
