Goodman Group shares surged almost 6 per cent on Tuesday after the logistics giant upgraded its full-year earnings guidance on the back of a bumper first quarter of development activity fuelled by the e-commerce boom.

New forecasts of earnings per share growth of 15 per cent this financial year – up from 10 per cent guided in August – came in ahead of analysts’ expectations, as Goodman benefited from rising global demand for last-mile logistics facilities on urban in-fill sites it owns around the world.