Carnival Corporation & plc, the Anglo-American cruise shipping group, has reported a slight fall in both revenues and net profit for three months to 31 August. Carnival's financial year ends on 30 November.
Group net profit fell to $1.21 billion in the third quarter of the current financial year from a profit of $1.24 billion in the same period last year. The fresh figure includes an unrealised bunker derivative loss of $137 million, up from $15 million a year earlier. Revenues fell to $4.88 billion from $4.94 billion.
For the first nine months of its financial year, the group however reported a rise in net orofit to $1.48 billion from $1.32 billion, while revenues decreased to $12.0 billion from $12.1 billion.
Carnival Corporation & plc President and Chief Executive Officer Arnold Donald noted, “Our third quarter non-GAAP performance was the strongest of any quarter on record with earnings $0.17 per share higher than the prior year despite a slight drag from the net impact of fuel prices and currency. Non-GAAP earnings for the quarter were also $0.17 higher than the mid-point of prior guidance."
"Net revenue yields improved 5 percent (constant currency) from the prior year benefiting from strong demand which led to higher occupancy levels, increased ticket prices and increased onboard spending. Clearly our ongoing investments in the guest experience, combined with our global marketing and public relations efforts along with our initiatives to leverage our scale are having a positive impact," he said in a statement.
