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Carnival summer profits up on stronger prices
Stronger prices achieved by late bookings for cruises this summer helped Carnival Corporation return better than expected third quarter results.
The cruise giant made a record profit after tax for the quarter of $1.38 billion, up by almost 12% on the same three month period ending August 31 last year.
The group’s European brands benefited from “strong improvements” in operating results, with increased revenue yields on a dollar basis due to stronger euro and sterling currancies, the parent company of P&O Cruises, Cunard Line, Ocean Village and Costa said.
Chairman and CEO Mickey Arison said: “Our earnings were up 12% driven largely by the successful introduction of new ships for both our North American and European brands in time for our peak summer season.
“Our North American brands enjoyed another strong European season, a solid Alaska season and a modest year on year improvement in revenue yields in the Caribbean. The recovery in the Caribbean has continued as the demand for Caribbean cruises remains strong.”
by Phil Davies
Phil Davies
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