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Reversal of fortune

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Sun Fook Kong Holdings has reported a $23 million attributable profit for the 1997 financial year compared with a $316 million loss in 1996.

Turnover fell 4 per cent to $1.35 billion but a sale of Ho Man Tin Hill Road property helped improve earnings. No dividend was declared.

China Travel International Investment Hong Kong is to buy a 51 per cent stake in the company.

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