ruben.maritime

MIAMI 21 December – Carnival Corp raked in record profits this year, but concedes that Caribbean booking difficulties now extend through the first half of 2007. Carnival reported net income of $416M during 4Q06, up from $336M in 4Q05, and full-year 2006 profits of $2.28Bn, versus $2.25Bn in 2005. After more exceptional earnings growth in 2004 and 2005, the more “modest” earnings increase this year was due to a $210M hike in fuel costs combined with a drop in Caribbean pricing on “hurricane fears and a challenging economic environment”, said chairman Micky Arison. Adjusted for currency, net revenue yields increased 0.8% in 4Q06 and 1.5% for full-year 2006. Commenting on 2007, Arison said bookings remain strong for European cruise brands and North American brands outside the Caribbean. However, pricing in the Caribbean [for 1H2007] “is still under pressure”, he said, adding that “the strength of the upcoming ‘Wave Season’ will have a significant effect on 2007 revenue yields”. Currently, Carnival predicts currency-adjusted net revenue yields will fall 2% in 1Q07 and end flat to slightly down for full-year 2007. Capacity will increase 8.4% next year, while net cruise costs are expected to remain steady.

 

Etiquetas: cruise market, cruises, shipping business

This entry was posted on viernes, diciembre 22, 2006 at 9:04 p. m.. You can skip to the end and leave a response.