Hainan Meilan Airport delivered a jump in net profit of more than 80 per cent last year but still fell short of analysts' expectations. The H-share airport operator on the resort island reported a net profit of 160.08 million yuan (about HK$150.28 million), up 83 per cent from 87.4 million yuan in 2001. Turnover increased by more than 50 per cent year on year to 283.45 million yuan. A final dividend of 18.1 fen was recommended. Analysts had anticipated the airport operator would have doubled its net profit after injecting money-making assets from its parent company ahead of its initial public offering in November last year. 'The results are OK but not as good as expected,' a Hong Kong-based analyst said. 'The revenue growth is in line with our expectations but we were looking for a 100 per cent jump in net profit with the asset injection.' Security house Oriental Patron Asia also anticipated a doubling in profit to 175 million yuan, according to a report it issued before Meilan Airport's listing. Assets such as a cargo centre, a travel agency and duty-free shops bought from unlisted parent Haikou Meilan Airport for 78.1 million yuan in May would raise profit, the report said. Meilan Airport also gained an extra 66.57 million yuan revenue because of a change in government policy which allows it to keep 50 per cent of a fee paid by departing passengers.