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Titan Petro says expects return to black in 2008

Wed Apr 23, 2008 9:10pm EDT

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HONG KONG, April 24 (Reuters) - Titan Petrochemicals Group Ltd (1192.HK), which posted a net loss of HK$29 million ($3.72 million) in 2007, expects the company will return to profitability in 2008 with the growth coming from its China shipyard, executives said on Thursday.

"The shipyard will be the major profit contributor," Philip Chu, Chief Financial Officer, said in a telephone conference.

Titan provides oil storage and transportation services and operates a shipyard in China. (Reporting by Alison Leung; Editing by Anne Marie Roantree)



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