Paliburg Holdings has chalked up an impressive 73.6 per cent increase in net profit to $670 million for the year to December 31. The result was heavily reliant on the company's hotel operations, which contributed more than $525 million, or 78 per cent, of the net profit. Chairman Lo Yuk-sui said only about $60 million was booked from sales of the first phase of the Fuller Gardens residential development in Tai Po. 'The whole year we didn't sell much property,' Mr Lo said. He said there were much better returns from rentals at Paliburg Plaza in Causeway Bay and Kowloon City Plaza in Kowloon City, which were fully let at $45 per square foot. Redhill Plaza in Tai Tam was about 90 per cent let at $51 a square foot. The company also made an exceptional gain of $117.4 million from the sale of unspecified investment properties and share investments. Turnover rose 33 per cent to $4.3 billion. Earnings per share increased to 35.7 cents from 20.4 cents in 1995, allowing directors to recommend a 25 per cent increase in the final dividend to 15 cents a share. In view of the results, the directors also proposed a bonus issue of one share for every four shares held. Mr Lo said he expected a much stronger performance from the property side this year. Substantial profits were expected from an office-commercial development in Johnston Road, Wan Chai; a residential development in Yuen Long called Villa Art Deco; the second phase of Fuller Gardens, a residential-commercial development; and a office-retail banking development in Shau Kei Wan. Mr Lo said the company had begun foundation work on the 700-unit residential project Park Royale in Yuen Long, which was expected to be pre-sold this year. The company would also book the $160 million sale of 2 Arbuthnot Road in Central this year. Mr Lo said the company was considering selling some properties in Staunton Street, Central.