Carnival Corporation & plc has reported fourth quarter net income of $217 million compared to $248 million on the last three months of its previous financial year. Revenues increased to $3.69 billion in the period to 30 November from $3.39 billion in the same period last year. Full year net profit fell to $1.91 billion from $1.98 billion, while revenue increased to $12.1 billion from $11.0 billion.
Chairman and CEO Micky Arison noted that earnings on a non-GAAP basis were in line with the company’s September guidance for the fourth quarter of 2011.
Commenting on 2011 full year results, Arison said, “On the whole, 2011 was an encouraging year for our global portfolio of cruise brands. Our North American brands performed well, achieving an almost four percent revenue yield increase, while our European, Australian and Asian brand yields were in line with the prior year (constant dollars) despite having been significantly impacted by the geo-political unrest in the Middle East and North Africa. Higher revenue yields partially offset a 32 percent increase in fuel prices, which reduced earnings by $535 million or $0.68 per share for the year.”
