WING On International Holdings saw property sales and bank contributions rescue poor operating profit performance last year. Net profit rose well ahead of market expectations to $285.78 million, up 50.6 per cent on 1991. Wong On Bank made a significant contribution of $74.98 million, compared with $12.59 million in 1991, a gain of 495 per cent. Property sales amounted to $65.25 million, against $2.95 million previously. However, operating profit fell two per cent to $354.8 million. Earnings per share rose 49.5 per cent to $1.57 and the final dividend declared was 38 cents, more than three times the previous year's 12 cents. This took the full-year payout to 45 cents from 18 cents in 1991. The results far exceeded analysts' forecasts and the management's own expectations. When the interim results were announced in October last year, management complained about rising operating costs and offered only limited assurances that the dividend would not be cut. Estimate Directory data showed Credit Lyonnais Securities was expecting only 15 per cent growth at $228 million, with earnings per share at $1.26, up 20 per cent. The rise in net profit came in the face of a 15 per cent jump in turnover to $2.73 billion. Wing On said the book closed on the company's register of shareholders on June 16.