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FY18 likely to remain muted for Centurion Corp despite expansion plans, says RHB

Michelle Zhu
Michelle Zhu8/10/2018 03:16 PM GMT+08  • 2 min read
FY18 likely to remain muted for Centurion Corp despite expansion plans, says RHB
SINGAPORE (Aug 10): RHB Research is maintaining “neutral” on Centurion Corp with a target price of 47 cents on expectations of a 3.4% FY18F dividend yield.
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SINGAPORE (Aug 10): RHB Research is maintaining “neutral” on Centurion Corp with a target price of 47 cents on expectations of a 3.4% FY18F dividend yield.

This comes after Centurion’s 2Q18 results met the research house’s estimates, posting 15% lower earnings of $9.1 million in the absence of contributions from the group’s Westlite Tuas dormitory, which ceased operations in Dec 2017.

In a Thursday report, analyst Jarick Seet highlights that Centurion’s management is “working hard” to find new revenue sources, such as from the potential establishment of a second accommodation private fund as well as expansion into the student accommodation segment.

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