Viking Line, the listed Finnish cruise ferry company, forecasts an increase in operating profit for the present year after a dip in 2017 on tough competition and higher operating expenses.
Group net profit narrowed to €5.3 million last year from €8.0 million in 2016, while revenues rose a fraction, to €522.7 million from €519.6 million in 2016. Operating profit contracted by €3.7 million to €10.0 million.
Revenues from passengers fell by 0.8% to €476.4 million and freight revenue fell by 1.1% to €43.8 million, reflecting tough competition in the services the company operates. Operating costs increased by 3.3% to €339.1 million, with bunker expenditure increasing by 18.3% to reach €46.7 million, the company aid in a statement.