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.