Global Logistic Properties’ net profit slipped 34.5% to $138.8m in Q4

Due to increased minority interests' share of profits.

Global Logistic Properties (GLP) reported that its net profit declined 34.5% year-on-year to $138.8m (US$104.9m) in the fourth quarter.

The decline was driven by increased minority interests’ share of profits following the completion of a consortium’s investment in 33.8% of GLP China, lower EBIT and higher income tax expenses over the quarter.

Profit attributable to non-controlling interests increased from $16.01m (US$12.1m) in the same period last year to a whopping $92.6m (US$70m).

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