Global Logistics Properties' profits jumped 27% to US$684m

Thanks to strong rent growth in China.

According to a release, Global Logistic Properties Limited's FY13 PATMI rose 27% to US$684 million, driven by strong development momentum and rent growth in China.

FY13 Group revenue rose 14% year-on-year to US$642 million, driven by development completions and continued rental growth in China.

Revenue in China was US$252 million, up 58% year-on-year. Japan revenue was US$388 million, 4% lower than the same period last year following income loss from the contribution of 33 properties to GLP J-REIT in 4QFY13 and depreciation of the Japanese Yen offset by substantial growth in fund management revenue.

FY13 Group EBIT and PATMI rose 30% and 27% respectively, driven by higher revenue and revaluation gains of US$425 million from investment properties and jointly-controlled entities. China EBIT grew by 39%, with PATMI up 28%. In Japan, EBIT and PATMI were up 3% and 4% respectively.

The Board has proposed the payment of a tax-exempt (one-tier) final dividend of 4 SGD cents per ordinary share in respect of FY13, 33% higher than last year. The proposed dividend, subject to shareholders’ approval at the Annual General Meeting, constitutes a payout ratio[2] of 44%.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit