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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%

RECENT SALE: GLP has announced the sale of its 50 per cent share of GLP-MFLP Ichikawa Shiohama to GLP J-Reit for about US$151 million. This crystallises US$48 million of development profit for GLP.


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