March 19 (Bloomberg) -- Hong Kong & China Gas Co., the city's only piped-gas supplier, said profit increased 11 percent last year.

Net income rose to HK$5.86 billion ($750 million), or HK$1.06 a share, from HK$5.28 billion, or 94.9 Hong Kong cents, a year earlier, the company, known as Towngas, said in a statement today. The median estimate in a Bloomberg survey of seven analysts was HK$5.36 billion. Profit jumped 61 percent in 2005.

To contact the reporter on this story: Wing-Gar Cheng in Beijing at wgcheng@bloomberg.net; Ying Lou in Hong Kong at ylou1@bloomberg.net

Last Updated: March 19, 2007 06:10 EDT