Property developer Emperor International Holdings said operating profit rose 51 per cent on rising rents and on an increased contribution from its 41 per cent stake in sister firm Emperor Entertainment Hotel. Stripping out revaluation gains, underlying profit rose to HK$184.98 million for the year ended March compared with HK$121.72 million a year earlier. Turnover rose 25 per cent to HK$408.51 million. Net profit fell 8.6 per cent to HK$491 million from HK$534 million a year earlier after the company booked HK$338 million in revaluation gains, compared with a gain of HK$473.69 million last year, according to executive director Donald Cheung. Emperor International's rental income could rise between 5 and 10 per cent this year to around HK$180 million from HK$164.7 million last year, Mr Cheung said.