LEE Hing Development yesterday announced a 4.3 per cent drop in profit before extraordinary items to $98.38 million for last year. Turnover fell 48.1 per cent to $139.27 million. An extraordinary gain of $27.42 million from associated companies inflated total earnings to $125.8 million, a rise of 2.7 per cent. Lee Hing said its results were adversely affected by a provision of $96.2 million made for the fall in value of the group's investment in the World Square development in Sydney. However, the privatisation of the group's main associated company, Hsin Chong International, significantly increased contributions from Hsin Chong. Earnings per share decreased by 5.7 per cent to 35.33 cents. The group will pay a final dividend of 18 cents per share, making a total pay-out of 26 cents for the year. Lee Hing expected Hsin Chong to remain the major contributor to group profits and cash inflow this year.