HUEY Tai International has reported profits after tax and minority interests of $333.78 million for the year ended March 31, three times better the previous year's result.
The property developer attributed the profit rise to the strong pre-sale of some properties under development, and the important contribution from a subsidiary, Asean Resources Holdings.
The gain came despite a plunge in turnover, from $755.7 million to $323.64 million.
Earnings per share jumped to 60.59 cents, against 15.06 cents a year ago.
The directors recommended a final dividend of five cents, to be paid in scrip and with a cash option.
During the period under review, the company has disposed of several properties while remaining active in replenishing its land bank by acquiring older apartments for redevelopment.
