Red chip China Travel International Investment Hong Kong has beaten market expectations to post an 89 per cent jump in net profit to $499 million.
The result was bolstered by a net exceptional gain of $96.1 million and share of associated companies' profit of $43.8 million.
The company made provisions for doubtful and bad debts of $102.7 million and a provision for a diminution in the value of other investments of $69.1 million.
Operating profit rose 20 per cent to $404.9 million on a 45 per cent rise in turnover to $2.1 billion.
Earnings per share were 16.13 cents on a diluted basis.
A final dividend of 1.5 cents a share was declared, bringing the total payout to 3.3 cents a share against 3.5 cents earlier.
Market consensus in the May edition of The Estimate Directory forecast a 62 per cent surge in net profit to $428 million.
