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GLP's revenue, earnings jump in Q4

Management reports oversupply in some Chinese cities, lowers FY17 development start target

Published Thu, May 19, 2016 · 09:50 PM

Singapore

WAREHOUSE provider Global Logistic Properties (GLP) posted a surge in earnings for its fiscal fourth quarter on the back of higher revenue and fair value gains from investment properties.

Net profit for the three months ended March 31 jumped 45.7 per cent to US$152.7 million from the preceding year. Revenue for the period expanded 19.4 per cent to US$199.1 million year on year.

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