Royal Caribbean Cruises, Ltd. (RCCL), the world’s second largest cruise shipping group, has reported a rise insecond quarter net profit to $229.9 million from $184.9 million in the same period last year. Revenues increased to $2.10 billion from $2/06 billion, the company said in a statement.
In the first six months of the year, the net profit increased to $329.0 million from $230.2 million, while revenues rose to $.4.02 billion from $3.87 billion.
“Yields and costs for the year are also performing generally as expected. The sale of 51% of the Pullmantur Group announced in May was completed at the end of July. Consequently, Pullmantur's results will no longer be consolidated in the company's accounts. Since Pullmantur's yields and costs are lower than the fleet average, this change has the effect of increasing the company's yields and costs metrics for 2016,” RCCL said in the statement.
Key highlights of the second quarter figures:
Net Yields were up 1.1% on a Constant-Currency basis (down 0.5% As-Reported), in-line with previous guidance.
Net Cruise Costs ("NCC") excluding fuel were up 1.9% on a Constant-Currency basis (up 1.5% As-Reported), in-line with guidance.
US GAAP Net Income was $229.9 million or $1.06 per share, versus $185.0 million, or $0.84 per share in 2015.]
Adjusted Net Income was $235.2 million, or $1.09 per share, versus $185.0 million, or $0.84 per share in 2015, better than guidance due to lower than expected fuel expense.
