Mainland property developer Winsan (China) Investment Group saw attributable profit surge to $195.36 million last year from $25.15 million in 1996, boosted by the sale of three residential projects. Profit met the company's forecast of $195 million when it went public in July. The sale generated 95 per cent of $772.95 million in turnover, with the rest from rental income. Operating profit jumped to $309.45 million from $56.33 million on turnover up more than 330 per cent. Earnings per share rose to 22.7 cents from 3.4 cents. Directors recommended a final dividend of 6.5 cents against none previously. Chairman Chan Chak-shing said: 'We have speeded up the construction of projects in Beijing, Suzhou and Nanjing, which brought fruitful results.' He said the firm enjoyed an average of 30 per cent return from apartment sales. 'We've sold all the finished flats we built in China since January and hope to start pre-sales soon on the developing sites in the cities,' he said. Chief accountant Lu Meizhen said about $300 million in debt would be due this year and the firm planned to settle it by recurring income and internal resources.