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Fred. Olsen Cruise Lines’ third quarter and nine month profit falls on lower passenger days

Fred. Olsen Cruise Lines, the UK based destinational operator of four ships, has reported a fall in net profit for the third quarter and the first nine months of the year on a 7% fall in passenger days, parent company Bonheur said in a statement.

Third quarter net profit fell to NOK95 million from NOK127 million in the same period last year, while revenues fell NOK2 million to NOK620 million.

In January-September, the profit narrowed to NOK95 million from NOK190 million year-on, while revenues rose by NOK4 million to NOK1.67 billion.

Cash holdings of the company increased to NOK807 million on 30 September from NOK592 million a year earlier and the company has no debt. Equity increased to NOK1.26 billion from NOK1.16 billion.

The number of passenger days totaled 284,823 for the third quarter compared to 306,961 year on, a decline of 7%. “Net ticket income per diem (GBP) was 14% higher, compared to the corresponding quarter last year,” Bonheur said.

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