The 54 per cent growth of Tianjin Port Development (3382.HK) in the fiscal year is the driving force. The company recorded a profit of 570 million yuan in the 10th fiscal year, an increase of 54%, mainly due to an increase in the share of profits after it was injected with about 56.8% of the A-share Tianjin Port shares (600717.SH) last year, with an unpaid dividend of HK $0.0194 per share and HK $0.037 for the whole year.

Credit Suisse believes that with steady growth in container throughput and contributions from the crude oil terminal joint venture, its profit for 11-12 can maintain a moderate growth, reiterating its neutral rating and a target price of HK $1.99.

Tianjin Port Development rose 0.53 per cent yesterday to HK $1.88.