Fred. Olsen Cruise Lines stages strong return to profit on lower costs
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 02 November 2012 02 November 2012
Fred. Olsen Cruise Lines Ltd, the Ipswich based company that operates four medium sized ships on the UK market, has staged a strong return to profit on lower costs in the third quarter, according to figures released by its listed parent companies Bonheur ASA and Ganger Rolf ASA.
The company made a net profit of NOK37 million compared to a loss of NOK44 million in the third quarter of last year. Revenues remained largely stable at NK452 million compared to NOK455 million.
In the first nine months of the year, however, losses deepened to NOK40 million from NOK26 million on a weak start of the current year. Revenues also fell slightly, to NOK1.29 billion from NOK1.31 billion.
“Number of passenger days totaled 336 250 (348 654) for the quarter and passenger yields were in line with last year. Lower price on fuel oil and lower operating costs impacted the result positively. Ticket income is currently showing a negative trend,” the statement said.
Strategic pricing programmes helped Norwegian to increase profit
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 31 October 2012 31 October 2012
Strategic pricing programmes were among factors that helped NCL Corporation Ltd, parent company of Norwegian Cruise Line, to improve its profits in the third quarter, the company’s CEO said.
“Posting these great results, despite the challenging economic environment in Europe where we had a record deployment, is a testament to the discipline and rigor instilled at Norwegian to continuously improve quarter after quarter,” said Kevin Sheehan, the Company’s President and Chief Executive Officer.
“Our results reflect strategic pricing programmes, benefits from process improvements and other enhancement initiatives which resulted in a nine percent improvement in operating income,” continued Sheehan.
Norwegian reports 19% rise in third quarter net income to $128.2 million
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- Written by Kari Reinikainen Kari Reinikainen
- Category: Top Headlines Top Headlines
- Published: 31 October 2012 31 October 2012
NCL Corporation Ltd, parent company of Norwegian Cruise Line has reported a 19.2% rise in third quarter net income to $128.2 million on revenue of $674.4 million from net income of $107.5 million on revenue of $666.6 million, the company said in a statement.
Operating income increased 8.8% to $174.1 million in the third quarter of 2012 compared to $160.0 million in 2011 with an improvement in operating margin to 25.8% from 24.0%. Adjusted EBITDA grew 7.2% to $223.6 million from $208.6 million with an increase in Adjusted EBITDA margin to 33.2% from 31.3%.
Net Revenue increased 1.8% to $498.4 million primarily due to an increase in Net Yield. With increases in both ticket and onboard and other revenue, Net Yield improved 1.0%, or 2.6% on a Constant Currency basis.
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