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Stocks to watch: GLP, CRCT, AA Reit, iFast, Japfa
THE following stocks made announcements after market close on Tuesday that could affect trading on Wednesday:
GLOBAL Logistic Properties (GLP) is acquiring a US$4.55 billion logistics portfolio in the US in a deal that will propel the firm to become the second largest logistics property player there within a year of entering the market. The portfolio - comprising 58 million square feet of logistics assets across 20 markets such as Los Angeles, Metro DC and Pennsylvania - from Industrial Income Trust will be injected into its fund management platform.
CAPITALAND Retail China Trust (CRCT) said that distribution per unit (DPU) for the second quarter was 2.73 cents, 5.4 per cent higher than the 2.59 cents a year ago. This was on the back of net property income of S$36.0 million for the three months ended June 30, which was 5.3 per cent higher than the S$34.2 million last year.
AIMS AMP Capital Industrial Reit (AA Reit) recorded a distribution per unit (DPU) of 2.75 Singapore cents for the first quarter of its financial year, up 7.8 per cent from a year ago.
For the three months ended June 30, the trust saw gross revenue grow 10.7 per cent over the year to S$30.3 million, while net property income rose 3.7 per cent to S$20.2 million.
INTERNET-BASED investment platform iFAST's net profit rose 24.6 per cent to S$3.28 million for the second quarter. The group, which runs the Fundsupermart.com unit trust distribution website, saw revenue grow 21.9 per cent to S$23.2 million. iFAST's directors have proposed an interim cash dividend of 0.68 cent for each share.
AGRI-FOOD company Japfa said on Tuesday evening that its net profit for the second quarter had plunged 86 per cent year-on-year to US$2.96 million, due in part to lower revenue as well as the absence of a one-off gain from an asset disposal in the corresponding quarter a year ago.
Revenue for the three months ended June 30, 2015, fell 8 per cent to US$704.25 million, as its Indonesian subsidiary saw continued decline in consumer demand.