August 16 -- Xiamen Port Development (RCode:000905) posted a 79-percent year-on-year increase in net profit to 75.84 million yuan in the first half of 2011, reports yicai.com, citing a company filing.

Sales revenue in during that period grew 54 percent year-on-year to one billion yuan, while the gross margin fell 3.76 percent to 16.99 percent.

The company predicts a 51-percent year-on-year increase in net profit to 110 million yuan in the first three quarters of 2011. It expects higher port throughput and strong overall performance.