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RCCL reports strong rise in final quarter and full year results

Royal Caribbean Cruises, ltd (RCCL), the world’s second largest cruise shipping group, has reported a strong rise in final quarter and full year 2016 results.

Group net profit rose to $261.0 million in the last three months of 2016 on $206.8 million in the same period in 2015. Revenues remained stable at $1.90 billion.

In the full year 2016, the group net profit increased to $1.28 billion from $665.8 million. In 2015, RCCL had booked a $411 million impairment charge against Pullmantur, a Spanish company it then owned in full. It now retains a 49% stake in it. Revenues increased to $8.49 billion from $8.30 billion.

"As we enter our double-double year, we have never been so well positioned," said Richard D. Fain, chairman and chief executive officer. "This program has done what it set out to do – bookings are at record levels, the preference our brands enjoy has never been stronger, we are on the cusp of investment grade ratings, our dividends are at an all-time high, costs have been well managed, and our guests' satisfaction has never been better. The double-double program helped reinforce the mindset and discipline across our organization which has gotten us here. For that I thank every one of the men and women whose passion and efforts are driving this performance. While currency and fuel are both significant negatives at the moment, our business continues to thrive."