Global Logistic Properties reported a 64% jump in 3Q earnings to US$184 million ($262 million).
This was due to its China earnings, which were up 50%, driven by higher asset values, rent growth and continued leasing of developments.
Leasing in China was up 27% and same-property portfolio rents went up 4.6% for the period.
Japan’s earnings also leaped 34% on the back of higher development completions of its logistic facilities.
Revenue increased 11% to US$199 million, owing to the completion of projects in China and the management fee income from GLP US Income Partners I.
GLP says it has completed US$516 million worth of modern logistic facilities during the period, which translates to US$67 million in development gains.
It remains confident it can meet its FY16 guidance.
GLP ended 2.7% lower at $1.62 on Wednesday.
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This was due to its China earnings, which were up 50%, driven by higher asset values, rent growth and continued leasing of developments.
Leasing in China was up 27% and same-property portfolio rents went up 4.6% for the period.
Japan’s earnings also leaped 34% on the back of higher development completions of its logistic facilities.
Revenue increased 11% to US$199 million, owing to the completion of projects in China and the management fee income from GLP US Income Partners I.
GLP says it has completed US$516 million worth of modern logistic facilities during the period, which translates to US$67 million in development gains.
It remains confident it can meet its FY16 guidance.
GLP ended 2.7% lower at $1.62 on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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