LAM Soon (Hongkong) has posted remarkable profit growth despite the profit drop of subsidiary Lam Soon Food Industries as a result of the yuan devaluation. The parent company posted a 261 per cent surge in profit before extraordinary items to $95.88 million for calendar year, over $26.25 million in 1991. Earnings per share were 39 cents, up 254 per cent from 11 cents previously. Directors have proposed a final dividend per share of 15 cents, up 66 per cent on the nine cents in 1991. ''During 1992, our subsidiaries in Hongkong and elsewhere operated under varied circumstances. Happily, all the management teams performed effectively,'' said chairman Whang Tar-choung. Lam Soon Industries and Lam Soon-Ball International were the most improved companies in the group. Profit attributable to shareholders was $147.32 million, up 105 per cent on $71.8 million in 1991. However, Lam Soon Food Industries has registered a 23 per cent drop in profit before extraordinary item to $64.06 million last year, against $83.47 million in 1991. Lam Soon Food ''ran into some difficulties as its exports to China were hampered by renminbi depreciation and tariffs while domestic sales had to fight for market share in mature sectors'', said Mr Whang. Earnings per share were two cents, down from three cents previously. Directors have proposed a final dividend of three cents a share, down 70 per cent on 10 cents in 1991. Profits attributable to shareholders are $$64.06 million, down 25 per cent on $85.72 million previously. Mr Whang said that while results were disappointing the company's underlying fundamentals remained healthy. The results come a day after Lam Soon announced a $218 million placement of 10 per cent of MC Packaging, less than six months after listing the can maker. The shares, in the company controlled by Lam Soon (Hongkong), were issued at $3.94 each.