Television maker and property investor Luks Industrial Co says property sales will help return the company to profitability this year, having made a net loss of $244.72 million in 1996. Financial controller Fan Chiu-tat said the company would realise at least $600 million from the sale of a Wuhan property project in the first half of the year. He said second-half performance would be even stronger, as its cement factory in Vietnam reached full production. In 1996, Luk's net attributable loss was $244.72 million, against net profit of $80.13 million in 1995. Excluding a $213.93 million exceptional loss incurred from the closure of a television manufacturing plant, operating profit was $30.08 million in 1996. 'There will no longer be any provisions from the television division. The company will perform better this year,' he said. The company bought a 38 per cent stake in mainland electronics maker TCL Electronics Corp, which reported a net profit of $57 million for the five months to December 1996. It would in future focus on property development in China and Vietnam, Mr Fan said.