GLP's Q1 net profit falls 24%
This is due to unrealised forex losses, lower revaluations on fund management business; core earnings are up 7%
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Singapore
GLOBAL Logistic Properties (GLP) on Friday reported that its net profit for the fiscal first quarter to June 2016 fell 24.3 per cent to US$202.9 million.
This was due to US$36 million of foreign exchange losses over the yen and yuan, but it stressed that most of this was actually unrealised accounting losses resulting from marking inter-company forex loans to market.
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