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Analysts positive on CICT amid greater reopening and economic recovery

Chloe Lim
Chloe Lim5/5/2022 06:42 PM GMT+08  • 5 min read
Analysts positive on CICT amid greater reopening and economic recovery
Management also indicated that CICT's focus in 2022 would be to remain agile and be proactive in managing costs. Photo: Capitaland
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Analysts are generally positive about Capitaland Integrated Commercial Trust (CICT) as they largely see gradual but surer signs of recovery on the horizon.

CICT reported 1QFY2022 ended March revenue and net property income (NPI) of $339.7 million and $248.3 million respectively, up 1.5% and 0.5% y-o-y, on higher revenue across all segments, partly offset by the rise in utilities expenses as it had hedged energy cost for FY2022 at higher rates.

Gearing was at 39.1% at end-1QFY2022 with 85% of total debts hedged to fixed rates.

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