Fred. Olsen Cruise Lines, which operates four ships on the UK market, returned to profit in second quarter of the year after losses caused by dry docking of two ships in the same period last year, according to Ganger Rolf ASA, which owns 50% of the shares in the cruise company.
Net profit amounted to NOK26 million compared to a NOK 34 million loss in the second quarter of last year.
Operating revenues in the quarter were NOK417 million (NOK 391 million). “The comparison with last year is distorted by the 2010 dockings of MV Balmoral (12 days in April/May) and MV Braemar (10 daysin May) and lower exchange rate for GBP against NOK,” Ganger Rolf said.
“Number of passenger days total 336 422(310 911) for the quarter and passenger yields have improved as a result of a yield-focused pricing strategy. Higher price on fuel oil (25% higher compared to last year) in the quarter impacted the result negatively compared with last year. Year to date the revenues were NOK 857 million (NOK 795 million) andEBITDA were NOK 100 million (NOK 96 million), Ganger Rolf stated.