Here's what's driving GLP's earnings growth

Overseas markets reported robust contributions.

Global Logistic Properties (GLP) is now more optimistic than ever before as its 2Q17 results showed strong profit growth. Overall bottomline was up 25.3% to $307.22m, boosted by robust contributions from its China and US segments.

According to CIMB analyst Lock Mun Yee, GLP saw higher rents, occupancy and retention ratio in China.

"1.92m sq m of leases were signed in China in 2Q. Retention ratio ticked up to 68%, versus 62% in 1Q, and occupancy rose to 87%," she noted.

On average, renewal rent growth was at 6.3%, with demand coming from e-commerce, organised retail, and autoparts sectors.

Meanwhile, its US segment continue to be the bright spot, as the group sees 1m sq m of leases signed at an average 19.6% rental uplift. Lock noted that occupancy in the said segment held steady at 94% while its cap rates remained unchanged.

The analyst also stated that GLP's Japan market remained steady with 0.24m sq m on new/renewal leases signed at an average 4.5% higher reversions.

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