Wharf (Holdings) hotel arm Harbour Centre Development boasted a 62 per cent rise in first-half profits yesterday, but saw profits for property and securities vehicle Beauforte Investors Corp fall 23 per cent. Harbour Centre Development yesterday announced that attributable profit for the first six months rose to $185.7 million, from $114.5 million for the same period last year. This growth was attributed to an increase in tourist arrivals. It said the Hong Kong Hotel maintained high occupancy during the period. The profit growth was boosted by a $24.2 million exceptional gain from disposal of hotels and investment property in the US. The company set a $13.2 million provision for certain long-term listed investments in the previous period. Operating profit grew 26.9 per cent to $175.5 million, from $138.3 million, despite seeing turnover slide 14.45 per cent to $581.4 million, from $679.6 million. An 11 cents interim dividend was recommended, up from 10 cents. Earnings per share climbed to 59 cents from 36.3 cents. The company said it planned to develop a property in the Western area, which it acquired in January, into a 240-room hotel. Beauforte Investors saw attributable profit for the first half dip 23.53 per cent to $23.4 million after a smaller exceptional gain. Profits of core business actually rose 20.45 per cent to $21.2 million. That included a $1.4 million loss from associated companies due to a property revaluation deficit related to properties for rental. Disposing of certain long-term investments produced a $4 million exceptional gain in the first half, compared with the previous $13.2 million.