Lai Sun Development (00488) said its profit attributable to owners for the year ended 31 July 2016 dropped 43.1% year-on-year to HK$1,148.4 million.
The decrease is primarily due to a substantially lower revaluation of the Group's investment properties during the year under review.
Excluding the effect of property revaluations, net profit attributable to owners of Lai Sun increased by 13.5% to HK$329.8 million.
Basic and diluted earnings per share were HK4.5 cents.
The turnover was HK$1,868.3 million and gross profit was HK$1,006.6 million, an increase of 21.2% and 12.4% from a year earlier.
The proposed final dividend is HK0.19 cent (2015: HK0.25 cent) per share, payable on or about 27 January 2017.
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