Hong Kong-listed Lippo Ltd, controlled by the Indonesian Riady family, said yesterday net profit soared 94.75 per cent to $692.9 million for the year to December, compared to $355.8 million the previous year. The profit came after about $1 billion in exceptional gains which more than offset a $458.6 million provision for a fall in the value of investment properties. The exceptional gain arose mainly from a $416.5 million profit on the dilution of shareholding in subsidiaries and a $440.4 million gain on the sale of shares in a listed subsidiary. Turnover was up 63.4 per cent to $5.82 billion while earnings per share totalled $1.35 per share, up from 71 cents per share. According to the April edition of The Estimate Directory the consensus forecast for earnings per share was 77 cents per share. The company said it would pay shareholders an unchanged final dividend of 13 cents per share and a 97- cent special dividend for a total payout of $1.18 per share. Meanwhile, Lippo subsidiary, Lippo China Resources, said net profit fell to $115 million for the year to December 31, down from $545.4 million last year. It attributed the fall in earnings to a $447.6 million provision for the fall in value of investment properties. Turnover rose to $3.2 billion from $2.36 billion the previous year. Earnings per share were 3.9 cents, against 21 cents previously. Lippo China will pay shareholders a final dividend of 1 cent per share for a total payout of 2.5 cents per share, down from 3.7 cents last year.