Centurion Corporation has reported a 9% y-o-y growth in revenue for the 3QFY2025 ended Sept 30 of $67.5 million. For the 9MFY2025, revenue grew 12% y-o-y to $208.3 million.
This was driven by sustained high financial occupancy rates and positive rental reversions across its Purpose-Built Worker Accommodation (PBWA) and Purpose-Built Student Accommodation (PBSA) portfolio.
The group’s PBWA segment saw a 13% y-o-y increase in revenue for 9MFY2025 to $162.7 million, mainly attributable to positive rental reversions across the group’s PBWA assets and the commencement of operations of a new PBWA asset in Singapore.
Average financial occupancy declined to 90% in 9MFY2025 due to lower average financial occupancy in Malaysia.
For Singapore, PBWA revenue increased 14% y-o-y to $148.5 million in 9MFY2025 due to positive rental rate reversions as well as contributions from Westlite Ubi. Average financial occupancy of the Singapore PBWA portfolio remained strong at 99% in 9MFY2025.
The acquisition of Harum Megah in September 2025 adds six fully operational PBWA assets with 7,197 beds in Johor, expanding Centurion’s Malaysia portfolio by 25%.
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In Hong Kong, Westlite Sheung Shui achieved financial occupancy of 32% for 9MFY2025, up from 28.0% reported in the last financial update.
Centurion’s PBSA segment grew 3% y-o-y to $43.5 million in 9MFY2025. Overall financial occupancy decreased to 94% in the first nine months due to lower occupancy in Australia.
In UK, the PBSA revenue increased 7% y-o-y to $30.7 million in 9MFY2025 from favourable supply-demand dynamics.
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In Australia, revenue declined 6% y-o-y due to lower occupancy as a result of student visa restrictions and a weaker Australian dollar. Centurion remains optimistic about the long-term prospects of the Australia PBSA sector.
In Hong Kong, the two PBSA assets became operational by September 2024. Excluding unavailable beds due to AEIs, the average financial occupancy rate in 9MFY2025 improved to 45%.
Centurion’s built-to-rent (BTR) asset became operational in 2025. Average financial occupancy increased to 59% and as at Sept 30, the asset achieved occupancy of 92%.
Shares in Centurion closed 4 cents higher or 2.941% up at $1.40 on Nov 13.
