Global Logistic's Q3 profit down 36.2% at US$112m

Singapore

GLOBAL Logistic Properties' (GLP) third-quarter earnings plunged 36.2 per cent as the group recorded lower contributions from its joint ventures and incurred higher expenses related to its business expansion and a larger property portfolio.

For the three months ended Dec 31, 2014, net profit attributable to shareholders fell to US$112.45 million, or 2.16 US cents per share. Net asset value per share was US$1.82.