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Analysts lift Centurion's TP as headwinds evolve to tailwinds

Chloe Lim
Chloe Lim8/18/2022 10:25 AM GMT+08  • 4 min read
Analysts lift Centurion's TP as headwinds evolve to tailwinds
Revenue from Centurion Corp's worker accommodation segment expanded by 38% y-o-y to $67 million in 1HFY2022, as the demand for labour spiked up post lifting of Covid-19 measures.
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RHB Group Research analyst Jarick Seet has kept his “buy” rating on Centurion Corp after the company’s results for the 1HFY2022 ended June indicated a “solid recovery in demand” for its worker accommodations. The company’s demand for its student accommodations have remained intact as well.

On this, the analyst has upped his target price to 51 cents from 43 cents previously.

Centurion Corp had, on Aug 11, reported strong results for the six-month period, with revenue rising 40% y-o-y to $90.5 million and core PATMI surging 42% y-o-y to $29 million. “This affirms our view that both of its workers and student accommodation businesses are recovering rapidly,” says Seet.

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