On 6th February 2024, CapitaLand Integrated Commercial Trust (CICT) announced their 2H2023 Financial Results. CICT’s 2H2023 Distribution Per Unit (DPU) was 5.45 cents, up 1.7% year-on-year. This brings CICT’s total DPU for FY2023 to 10.75 cents, up 1.6% year-on-year.
CICT 2H2023 Financial Results
In 2H2023, gross revenue rose by 4.1% y-o-y to S$785.2 million and net property income grew by 4.0% y-o-y to S$563.6 million.
CICT’s distributable income also rose 2.1% year-on-year (y-o-y) as compared S$355.1 million in 2H2022. The higher distributable income was underpinned by sound operational performance driven by proactive portfolio management and prudent cost management.
|
2H2023
(S$’000) |
2H2022
(S$’000) |
Change |
| Gross Revenue |
785,157 |
754,148 |
4.1% |
| Net Property Income |
563,570 |
541,663 |
4.0% |
| Amount Available for
Distribution |
369,503 |
361,768 |
2.09% |
| Distributable Income |
362,481 |
355,078 |
2.10% |
| Distribution Per Unit (“DPU”) (cents) |
5.45 |
5.36 |
1.65% |
CICT Full Year FY2023 Financial Results
In FY2023, CICT’s Gross Revenue rose by 8.2% y-o-y to S$1,559.9 million. Net Property Income
also grew by 7.0% y-o-y to S$1,115.9 million.
The better performance was largely attributed to higher contribution from Raffles City Singapore and the full-year contribution from acquisitions completed in 2022....
