Centurion’s net profit after tax soars to $175.9m

The FY23 net profit is 131% higher than the FY22 record.

SGX-listed Centurion saw its net profit after tax (NPAT) soar by 131% YoY to $175.9m in FY23.

The company attributed its improved NPAT to higher revenues, higher net fair value gain on its investment properties, and a higher profit share from associated companies.

Higher finance expenses partly offset the increase in NPAT.

In FY23, the company’s revenue climbed 15% YoY to $207.3m, driven by strong occupancies and improved rental rates across all its purpose-built workers' accommodations (PBWAs) and purpose-built student accommodations (PBSAs).

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