GLP Third Quarter Earnings Up 56%, Investing To Meet Demand

GLP Third Quarter Earnings Up 56%, Investing To Meet Demand

GLP today reported a 56% rise in earnings (PATMI( for the three months ended 31 December 2013 ("3QFY14"). The company has seen significant operational momentum in recent months, with strong leasing in all markets.

  • GLP establishes strategic partnership with Sinotrans, China’s largest state-owned logistics company
  • GLP will cooperate with Sinotrans to develop a national network of logistics facilities, initially working together in Shanghai & Guangdong Province
  • Partnership enhances GLP’s access to strategic land holdings and strengthens its position as the top logistics solution provider in China

 

Singapore, 24 February 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a strategic partnership agreement with Sinotrans Logistics Investment Holding Co., Ltd. (“Sinotrans”), to develop a national network of logistics facilities across China.
 

Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP said, “We are excited to announce this strategic partnership with Sinotrans. There is much room to reduce costs and improve efficiency in China’s logistics industry, even as strong growth in domestic consumption continues to drive demand. This partnership will enhance our access to strategic land holdings, strengthening our platform and solidifying our position as the top logistics solution provider in China.”
 
Sustained growth in domestic consumption and increasing outsourcing is driving demand for third-party logistics (“3PL”) services. 3PL firms can help reduce logistics cost significantly given their economies of scale and operational expertise. The partnership will tap GLP’s expertise in developing and managing logistics parks and Sinotrans’ capabilities in logistics operations and land-sourcing, to meet fast-growing demand for modern logistics facilities across China. GLP and Sinotrans will initially work together to develop logistics facilities in Shanghai and Guangdong Province.
 

Sinotrans is China’s largest state-owned logistics company. The company has signed leases for 67,000 sqm (722,000 sq ft) with GLP across seven cities in China, with a wide range of businesses, including freight forwarding, supply chain logistics, express delivery, warehousing and trucking transportation.


About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 23.4 million square meters (252 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving 700 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.
 

The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).


GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations   
Tel: +65 6643 6372
Email: agoel@glprop.com

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