Centurion guides 2021 net profit likely tripled

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Centurion Corp. guided Friday that it expected 2021 net profit would show a “substantial increase” of at least 200 percent, compared with 2020’s net profit of around S$17.2 million. 

The increase was attributed partly to the expansion of purpose-built workers accommodation (PBWA) in Singapore and Malaysia since the fourth quarter of 2020, Centurion said in a filing to SGX. 

In addition, the occupancy of the purpose-built student accommodation (PBSA) in the United Kingdom has shown a steady recovery, reaching 82 percent in the second half of 2021, the company said. 

Centurion said its fair valuation loss for 2021 for its investment properties was estimated at around S$3.1 million, compared with S$27.6 million in 2020. 

The results are expected to be released on or around 24 February, the filing said.