CHINA play Tian An China Investments Co has posted a 21 per cent increase in attributable profit of $125.1 million for the year to December 31. Earnings per share rose from 12.7 cents to 14.2 cents and the directors declared a final dividend of four cents per share. Group turnover rose 40.1 per cent to $402.4 million for the year compared with the previous year. Executive chairman Tony Fung Wing-cheung said despite the continued consolidation of China's property market last year, the group's property sales remained satisfactory. He said attributable floor area of 1.19 million sq ft was sold, of which 632,923 sq ft was commercial and residential, and the remainder for industrial buildings. However, the mainland slowdown had resulted in a drop of the attributable floor area of new projects started last year to 764,244 sq ft. By the end of last year, the group had 4.3 million sq ft of floor area under construction and more than 70 per cent of the 2.5 million sq ft offered for pre-sale was snapped up. Tian An China also acquired two new projects during the year in Shanghai and hence making its total floor area of property for or under development to be at 30.1 million sq ft, of which 80 per cent is commercial and residential developments. Mr Fung described the group's property operations in the mainland to be well-developed and capable of selling more than about one million sq ft of floor area every year. Apart from Shanghai, the group's core investments are in Shenzhen.