Property financing company DC Finance (Holdings) (DCF) has unveiled a ninefold surge in full-year net profit to $188.06 million, which entailed a huge one-off gain.
The company, which took over Chim Pui-chung's Lucky Man Properties early last year, yesterday announced a final dividend of 4.5 cents, resulting in a total accumulated payout of six cents against the previous two cents. A five-for-two bonus share issue was also recommended.
For the year to December, DC Finance booked a $113.09 million exceptional gain from offloading property-holding subsidiaries and associates.
Operating profit, excluding exceptional items, rose to $70.81 million, from $4.47 million. Turnover climbed 18 times to $264.07 million, while earnings per share jumped almost ninefold to 36.7 cents.
Chairman Eric Chan Man-hon said the company was close to finalising the sale of about 10 per cent of the company to Guangdong International Trust and Investment Corp.
