PROPERTY counter Pearl Oriental Holdings' after-tax profits rose 100 per cent to $262 million on the sale of property assets and from hotel revenues.
Following the record results for the year to December 31, the company will pay shareholders a 10-cent dividend per share, in addition to the five-cent dividend at mid-year, and make a one-for-five bonus issue.
Chairman and chief executive Wong Kwan said prospects for this year looked equally bright.
The group last year sold a total of $4.2 billion in property which it would be booking in subsequent years.
'The group's current financial position remains strong, as most of the premises scheduled for occupancy next year have already been pre-sold,' Mr Wong said.
'I forecast substantial growth of the group's profits in the coming year, and thus a corresponding increase in dividend payable per share is expected.' Earnings per share last year were 26.5 cents, representing a 52 per cent increase over the 17.4 cents for the same period last year.
