Global Logistic Properties says earnings jumped 27% to US$114 million ($160 million) in the second quarter ended Sept 30 from US$89 million a year ago.
The improved earnings were the result of growth in China, development gains in Japan, GLP's entry into the US market and the absence of foreign exchange losses compared to the previous year.
Revenue, however, slipped 2% to US$189 million from US$193 million.
The provider of modern logistics facilities has recorded 19 million sf of new and expansion leases in 2Q, up 51% from a year earlier.
Looking ahead, GLP says it is on track to meet its FY16 development guidance as the group continues to capture customer-driven demand across all markets.
It has achieved 40% of its development completions target for FY16 of US$2 billion.
GLP ended lower at $2.28 on Thursday.
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The improved earnings were the result of growth in China, development gains in Japan, GLP's entry into the US market and the absence of foreign exchange losses compared to the previous year.
Revenue, however, slipped 2% to US$189 million from US$193 million.
The provider of modern logistics facilities has recorded 19 million sf of new and expansion leases in 2Q, up 51% from a year earlier.
Looking ahead, GLP says it is on track to meet its FY16 development guidance as the group continues to capture customer-driven demand across all markets.
It has achieved 40% of its development completions target for FY16 of US$2 billion.
GLP ended lower at $2.28 on Thursday.
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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