Centennial Group Inc., a real estate developer...

Centennial Group Inc., a real estate developer headquartered in Orange, reported fiscal 1988 second-quarter earnings of $4.2 million, more than triple the $1.3 million reported a year earlier. Revenues of $18.7 million for the period ended Dec. 31 were up 83% from the year-earlier $10.2 million. Centennial reported record six-month earnings of $8.2 million, more than four times the $1.8 million reported for the first half of its fiscal 1987. Revenue for the first six months was $55.7 million, almost triple the $18.8 million reported for the first half of the prior year. The Centennial Group was formed in June, 1987, by combining six closely held real estate companies and partnerships and six limited partnerships. Results for the fiscal 1987 first half are so-called pro forma results, calculated as if the 12 separate companies and partnerships had existed as a single entity during that period. The company said the earnings and revenue increases for its fiscal 1988 first half primarily are the result of a sharp increase in real estate sales as development advances at each of the company’s 39 major projects.