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Forex losses hit Global Logistic's second-quarter earnings

Net profit falls 38%; near-term fall expected to be mitigated by longer-term accelerated growth in China

Anita Gabriel

Anita Gabriel

Published Tue, Nov 4, 2014 · 09:50 PM
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Singapore

WEIGHED down by US$54 million in one-time foreign exchange (FX) losses, net profit at Global Logistic Properties (GLP) dived 38 per cent to US$89.5 million for the fiscal second quarter.

The provider of modern logistic facilities in China, Japan and Brazil said there were US$29 million of FX losses in Japan stemming from th…

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