Property developer Wing Tai Holdings reported a net profit of $68.92 million for the fourth quarter ended June 30, 2010 (4Q2010). This reverses the net loss of $53.88 million it made in 4Q2009.

Revenue for the three months was up 17% y-o-y to $222.35 million.

Net profit for the full year ended June 30 (FY2010) rose to $160.75 million from $20.98 million a year ago. Revenue for the year rose 64% to $821.85 million.

Revenue from property development was $589.9 million while revenue from investment properties and retail was $36.8 million and $179.7 million respectively.

Wing Tai is recommending a first & final dividend of 3 cents a share as well as a special dividend of 2 cents a share this year.