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Carnival: Peak season profits ‘better than expected’
Carnival Corporation's net profits for the peak summer quarter to the end of August were roughly in line with last year at $1.3bn, despite sales being hit by political unrest in the Middle East and North Africa.
Chairman and chief executive Micky Arison said the results were better than anticipated, due to a combination of higher than expected revenue yields and lower than expected costs.
He said ticket prices for the peak period remained strong close to sailing, driving a 2.6% yield improvement. While European, Australian and Asian brand yields fell 2%, the North American brands achieved a 6% increase in yields.
Advance bookings for the remainder of 2011 and the first half of 2012 year are ahead of last year and prices are slightly higher, said Arison. "Despite the uncertain economic environment, we have a strong base of business for the first half of 2012 and booking trends during the third quarter have been solid.
"The increased level of importance consumers are placing on value continues to drive demand for our cruise products."
The company expects full-year net revenue yields to increase 2% year-on-year.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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