Viking Line, the Finnish cruise ferry group, has halved its net loss in the first quarter, but the company warns that the future development of fuel price can impact its full year result significantly.

Group net loss narrowed to €8.2 million in the review period from €15.6 million in the first three months of 2014. Revenues rose a fraction, to €105.0 million from €103.4 million. Lower dry docking costs and operating expenses explain the reduction of the loss.

The company's fleet carried 1.27 million passengers, up from 1.23 million, while the number of freight units increased to 34,500 from 31,200. It noted that competition remains tough in its markets, but forecast EBIT to exceed this year the €13.7 million of 2014, although price of fuel can significantly affect the outcome.