CENTURY City International Holdings has recorded a 45 per cent year-on-year increase in interim net profits to $189.91 million for the six months to June 30. Paliburg International Holdings, in which Century holds a 74 per cent stake, announced a 113 per cent leap in interim profits over the same period to $225.17 million. And Regal Hotels International Holdings, in which Paliburg has a 49 per cent stake, has reported a 23.7 per cent year-on-year rise in interim profits to $100 million. Lo Yuk-sui, chairman of all three, described the results as ''very satisfactory'' and pointed to even brighter times ahead. The directors of Century have declared an interim dividend of 2.3 cents a share. Century's turnover jumped 38 per cent to $441 million while earnings per share rose 10 per cent to 14 cents a share. Mr Lo said: ''Having regard to the very substantial profits anticipated to be derived from the [Century] group companies as well as from the company's own investments, the directors are very confident of the future prosperity of the group as a whole.'' Paliburg's directors have declared an increased interim dividend of 2.6 cents per share to reflect the company's exceptional half-year. Its turnover jumped 224 per cent to $411 million and earnings per share rose 106 per cent to 15.7 cents a share, boosted by substantial cash flow generated by the group's property development projects. Mr Lo said Paliburg's results for 1993 as a whole would be ''very encouraging'' and was confident of the group's future growth and success. Paliburg Plaza has been yielding steady income and higher rental rates have been achieved on tenancy renewals for its office tower. Kowloon City Plaza, which received its occupation permit in May, has proved a popular entertainment and shopping centre, with 90 per cent of its rentable area already occupied. Paliburg has continued to expand its activities in property development and investment in China. Apart from projects in Tianjin, Weifang and Jijiang already announced, Mr Lo yesterday revealed that Paliburg has since entered into a joint-venture agreement, subject to further authorisations, for the development of four property projects in Tangxia, Dongguan and Guangdong. It has also signed a letter of intent for a joint-venture property development in Shanghai. The directors of Regal Hotels yesterday declared an increased interim dividend of 1.5 cents a share. Turnover rose 14 per cent to $638 million while earnings per share climbed 19 per cent to 3.8 cents. Mr Lo said: ''On the whole, the outlook for the hotel industry in Hong Kong is promising. ''Assuming that the present level of land prices in Hong Kong is maintained, the increase in the supply of high-class hotel rooms is likely to slow down, and with the increasing influx of visitors to Hong Kong, it can be anticipated that there will be a high demand for hotel rooms in coming years.''
