Friday, May 29, 2015Friday, May 29, 2015

GLP full-year net profit rises to US$685.2m on strong China performance

Published on May 23, 2014 12:53 PM

SINGAPORE - A strong performance in China saw net profit at Global Logistic Properties rise to US$685.2 million (S$857.9 million) for its financial year ended March 31, just 0.1 per cent higher than in the previous year.

The provider of modern logistics facilities in China, Japan and Brazil, said on Friday that revenue for the financial year was US$598.3 million, 6.8 per cent lower than a year ago.

However, the figures were influenced by GLP's sale of some of its properties to GLP J-Reit, as well as foreign exchange movements.

Adjusting for these items, it said group revenue would have increased 20 per cent, while net profit would have risen 31 per cent.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!