HUTCHISON's Singapore-listed port operator has posted a 19 per cent year-on-year first quarter profit increase to HK$761.4 million (US$98,208), drawn on revenues of HK$2.94 billion, up three per cent.

Quarterly throughput of Hutchison controlled HPH Trust's deep-water ports was up three per cent year on year, said the company.

Combined volumes through Hongkong International Terminals (HIT), COSCO-HIT and Asia Container Terminals (ACT) grew four per cent mainly due to the acquisition of ACT in March 2013.

HIT's throughput dropped six per cent year on year while Yantian International Container Terminal's (YICT) volume was up two per cent year on year.

"Despite this, average revenue per TEU for HIT and YICT recorded an increase year on year," said an HPH Trust statement.

Both outbound cargo to US and EU increased. Throughput growth of YICT was mainly driven by transshipments. HIT's throughput dropped due to weaker intra-Asia cargo volume but was offset by more transshipments.

HPH Trust joined Cosco Pacific, which invested 40 per cent and China Shipping Terminal Development which invested 20 per cent in March to share ownership of ACT for a consideration of HK$2.47 billion.

"The partnership will enhance HPH Trust's capabilities in servicing multiple mega-vessels simultaneously, further bolstering all aspects of the group's port operations including flexibility, efficiency, synergy and profitability," said the HPH Trust statement.