Tianjin Port sees 2007 net profit up 16.6%

Tianjin Port Co<600717>, the operator of China's second-largest port by market value, saw net profit jumped 16.6% from the previous year in 2007 thanks to the soaring throughput of coal, metals, steel and container cargo.

Net profit climbed to RMB 600 million last year, compared with RMB 515 million in 2006, said the company in an annual earning report. Operating revenue aggregated RMB 2.93 billion, up 14.63% year-on-year.

The Shanghai-listed company expects cargo throughput to reach 158.6 million tons this year, with operating revenues keeping the similar growth as last year to hit RMB 3.35 billion.