Centurion posts 35% net profit decline in H1

This is attributed to lower fair value gains recorded as compared to H1 2024.

Centurion Corporation Limited has reported a decrease of 35% in net profit after tax in the first half of 2025 (H1 2025) to $82.99m, compared to the recorded $127.69m during the same period in the previous year.

According to the company, this is mainly due to a $63.3m reduction in net fair value gain on investment properties, including those of associated companies.

Excluding fair value adjustments, the group’s core business operational profits in H1 2025 improved by 22% to $65.4m year on year (YoY).

The company said revenue was up by 13% YoY to $140.7m, driven by positive rental revisions across all markets and healthy financial occupancies in both Singapore and the UK.

Centurion also disclosed that its latest Purpose-Built Worker Accommodation (PBWA) asset, Westlite Ubi, achieved rapid ramp-up, reaching full financial occupancy by April 2025 and driving a 17% YoY increase in Singapore PBWA revenue.

The company has declared an interim dividend of 2 cents per share for H1 2025.