Royal Caribbean Cruises, Ltd. (RCCL), the world second largest cruise shipping group, has reported a steady net profit for the third quarter compared to the same period last year, if an impairment charge it booked at that time is eliminated.
Group net profit rose to $693.2 million in the June to September period from $228.7 million in the same period last year, when an impairment chage3 of $411 million depressed the bottom line. Revenues rose slightly, to $2.56 billion from $2.52 billion.
For the first nine months of the year, the group reported a net profit of $1.18 billion, almost double the $624.9 million figure it reached in the same period last year, but the $411 million impairment charge hit the latter fire as well. Revenues rose to $6.59 billion from $6.39 billion.
“Net Yields were up 2.9% on a Constant-Currency basis (up 0.4%, As-Reported), better than guidance driven mainly by strong close-in demand for North American itineraries. Net Cruise Costs ("NCC") excluding fuel were down 1.6% on a Constant-Currency basis (down 2.0%, As-Reported), in line with guidance,” the company said in a statement.
