CICT’s H1 DPU up 0.8% on post-pandemic tailwinds, acquisitions

CAPITALAND Integrated Commercial Trust (CICT) on Thursday (Jul 28) posted a 0.8 per cent increase in distribution per unit (DPU) to S$0.0522 for the first half ended June.

Distributable income rose 3.4 per cent to S$347.3 million for the period, from S$335.9 million a year ago, amid an income boost from Singapore’s reopening and the trust’s portfolio reconstitution efforts.

Net property income for the period was up 6.2 per cent to S$501.6 million, driven by CICT’s acquisition of a 70 per cent interest in the CapitaSky development and 3 Australian assets, as well as higher rental income. This was partly dampened by its divestment of the JCube mall, as well as a 7.2 per cent rise in property operating expenses to S$186 million.