Carnival quarter revenues up

first_imgSource = e-Travel Blackboard: N.J Carnival Corporation & plc has reported a two percent increase in revenue for the first quarter ending 28 February from $3.2 billion in the period 2010 to $3.4 billion this year. Despite the jump in revenue the company’s net income fell from $175 million during the quarter 2010 to $152 million this year. The company’s chief executive Micky Arison said that earnings reached the high end of Carnival’s December guidance because of lower unit costs that cancelled out costs of rising fuel prices, which increased by nine percent between this period and the last. “Net revenue yields increased 2 percent (constant dollars) driven by a significant improvement in ticket prices for our European brands,” Mr Arison said.  “We remained focused on managing costs and reducing fuel consumption. “All of which more than offset rising fuel prices during the quarter.” The company is expecting fuel prices to hurt its diluted earnings for the second quarter, predicting a fall from $0.32 per share last year to $0.20 to $0.24 per share. While net revenue yields are expected to rise between 1.5 to 2.5 percent on the previous year. Carnival will also use the second quarter this year to debut two new ships, AIDAsol and Carnival Magic, in Europe. last_img

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