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Centurion announces 4Q earnings of $5.9 mil after adjustments

Michelle Zhu
Michelle Zhu2/27/2018 11:57 PM GMT+08  • 2 min read
Centurion announces 4Q earnings of $5.9 mil after adjustments
SINGAPORE (Feb 27): Centurion Corp posted earnings of $5.9 million for the 4Q ended Dec 2017, nearly doubling from its 4Q16 earnings of $2.9 million a year ago after adjusting for fair value losses on investment properties and assets held for sale, provid
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SINGAPORE (Feb 27): Centurion Corp posted earnings of $5.9 million for the 4Q ended Dec 2017, nearly doubling from its 4Q16 earnings of $2.9 million a year ago after adjusting for fair value losses on investment properties and assets held for sale, providing deferred tax arising from fair value gain, and dual listing expenses.

Excluding these one-off items, the group’s profit from core business operations attributable to shareholders fell 27% to $9.3 million from $12.8 million in 4Q16.

Revenue for 4Q fell 4% on-year to $33.6 million from $35 million previously due to reduced contribution from Westlite Tuas in Singapore as its lease expired on 30 Jan this year. Over the quarter, the property was fully vacated with its workers relocated to other dormitories owned by the group, as well as a pre-arranged dormitory nearby.

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