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GLP posts 52% rise in 2Q earnings to US$173 mil on higher share of results of associates

PC Lee
PC Lee11/8/2016 07:52 AM GMT+08  • 2 min read
GLP posts 52% rise in 2Q earnings to US$173 mil on higher share of results of associates
SINGAPORE (Nov 8): GLP, the provider of modern logistics facilities, reported a 52% increase in 2Q earnings to US$173 million ($240 million) from a year ago, primarily due to higher EBIT, partially offset by higher net finance costs.
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SINGAPORE (Nov 8): GLP, the provider of modern logistics facilities, reported a 52% increase in 2Q earnings to US$173 million ($240 million) from a year ago, primarily due to higher EBIT, partially offset by higher net finance costs.

EBIT increased to US$312.7 million from a year ago due to higher share of results of associates and joint ventures which more than doubled to US$190.7 million from a year ago.

Revenue came in 13% higher at US$214 million mainly attributable to the completion and stabilisation of development projects in China and higher management fee income from the US and Japan which came in 25% higher at US$47 million, up 25%.

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