Great Eagle profits head skywards

Great Eagle Holdings yesterday said net profit increased 26 per cent to HK$1.6 billion last year, driven by a sharp rise in its hotel and rental income. Turnover rose 18.6 per cent to HK$4.69 billion. A dividend of HK$2.58 per share was announced, up 24.6 per cent on last year. 'Our business should benefit from the generally positive outlook of the economies in Hong Kong and on the mainland,' the company said in its stock exchange filing. Hotel earnings jumped 53.8 per cent to HK$659.6 million, with HK$412.5 million generated in Hong Kong. Shares fell 2.89 per cent to HK$25.20.