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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Centurion’s net profit down 69% to $34m in FY14

Due to the absence of a one-off gain.

Dormitory developer Centurion Corporation reported a 69% drop in its full-year net profit due to the absence of a fair value gain which was recorded in the preceding year.

The group also reported the write down of an investment in an associated company.

Excluding the one-off and fair value gains, and the write down of investment in an associated company, the net profit after tax derived from Centurion’s core business stood at $35.6 million in FY2015, driven by its accommodation operations.

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