Fred. Olsen Cruise Lines net losses deepen in first quarter

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Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 10 May 2012 10 May 2012

Fred. Olsen Cruise Lines, the UK based operator of four medium sized ships, has reported a fall in operating profit and a deepening in net loss in the first quarter of the year.

Net loss amounted to NOK21 million compared to NOK4 million in the corresponding period last year. Operating profit (EBITDA) weakened to NOK30 million from NOK36 million.

Higher cost of bunkers led to the weakening of results, said Ganger Rolf and Bonheur, two holding companies of the Oslen family that are both listed in Oslo. Jointly they own 100% of the shares in Ipswich based Fred. Olsen Cruise Lines.

 

Walt Disney net profit rises 21% in three months to 31 March.

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Written by Kari Reinikainen Kari Reinikainen

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Published: 09 May 2012 09 May 2012

The Walt Disney Company, the US based entertainment group whose Disney Cruise Line has four vessels, reported net profit of $1.14 billion for three months to 31 March, an increase from $942 million in the same period last year. Revenues rose 6% to $9.63 billion.

 “With 18% adjusted growth in earnings per share, we’re pleased with our second quarter performance,” said Robert A. Iger, Disney Chairman and CEO.

 “We’re incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN, and ABC, and our extraordinary ability to grow franchises across our businesses, such as The Avengers, which shattered domestic box office records with a $207.1 million opening weekend for a global performance of more than $702 million to date.”

 The company did not disclose figures related to the performance of Disney Cruise Line.

 

TUI Travel reports deepening interim loss

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Written by Kari Reinikainen Kari Reinikainen

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Published: 09 May 2012 09 May 2012

TUI Travel PLC, the London based tour operator whose business includes Thomson Cruises in the UK, has reported net loss of £457 million for six months to 31 March, compared to a £366 million loss in the same period last year. Revenues increased to £5.45 billion from £5.20 billion.

The company, which is also a major retailer of cruises, said the summer 2012 trading overall remains in line with expectations with continued outperformance of the market in the UK.

Peter Long, Chief Executive of TUI Travel PLC, commented: “We are pleased with our overall performance for the first half. The UK delivered a strong Winter performance, which attests to our focus on differentiated and exclusive product and being online driven – key elements of our modern mainstream strategy. Our outperformance in this market is continuing into the Summer season and we will ensure that we continue to optimise our position. In our online accommodation only businesses we continue to deliver healthy growth driven by new markets as well as increasing market share in more recently established markets. Given the challenging economic environment, we remain cautious, however, overall trading performance continues to be in line with the Board’s expectations.”

Fred.Olsen Cruise Lines relaunches travel agent website

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Written by Kari Reinikainen Kari Reinikainen

Category: More News More News

Published: 09 May 2012 09 May 2012

Fred. Olsen Cruise Lines, the UK based operator of four medium sized ships, has today relaunched its website for travel agents. “The site has been completely redesigned to have all the information you need to sell Fred. Olsen, acting as a key resource and with everything only a click or two away. The Travel Agent Centre features a variety of tools, from an easy-to-navigate image library for marketing and promotions, to an FAQ database for the answers you need fast,” the company said in a posting of Facebook.