PAK Fah Yeow International has announced a 26 per cent increase in net profit to $20.7 million for last year.

Turnover stood at $76.4 million, compared with $62.9 million the previous year.

Thanks to the disposal of certain Hongkong properties, an extraordinary gain of $7.5 million was recorded.

The company recommended a final dividend of 3.8 cents, against 3.4 cents in 1991.