Warehouse operator Global Logistic Properties Ltd (GLP) reported a 64 percent rise in third-quarter net profit, helped by a strong performance from its China operations. Singapore-headquartered GLP, which operates warehouses in China, Japan, Brazil and the United States, said its China earnings were up 50 percent on higher asset values, growth in rent, new leases and renewed lease contracts. Overall profit after tax and minority interests was $184 million for the quarter ended Dec. 31, compared with $112 million a year ago. The company, in which Singapore's sovereign wealth fund GIC Pte Ltd is its biggest investor, posted an 11 percent rise in revenue to $199 million, its highest since at least June 2009. GLP's shares were trading 2.5 percent higher, while the broader market was up 0.7 percent. Its shares have lost about a fifth of their value so far in 2016, hurt by concerns over a slowing economy and a weakening yuan in China, where the company has the bulk of its properties. But analysts expect the company to benefit from demand for logistics facilities due to booming e-commerce as well as the Chinese government's attempts to guide its economy to a more sustainable path led by domestic consumption.