China World Trade Center Co., operator of Beijing’s tallest skyscraper, said Monday that its net profit will rise more than 50 percent year-on-year in 2011 on surging revenue.

In a brief statement filed to the Shanghai Stock Exchange, the company attributed the rapid profit growth to rising occupancy rates and rents of China World Trade Center Tower III, the tallest building in Beijing, and surging room and catering revenues from China World Summit Wing, a four-star hotel operated by the company.

The company’s net profit hit 120.78 million yuan (19.17 million U.S. dollars) in 2010. Earnings per share stood at 0.12 yuan, according to the statement.

The company’s shares slid 1.42 percent to close at 9.05 yuan on Monday.