Cruise operations of Nippon Yusen Kabushiki Kaisha (NYK), the Japanese shipping giant, returned to profit in the second quarter of its financial year on a broad based recovery, the company said in a statement.
The group’s cruise division, which entails Asuka Cruises in Tokyo and Crystal Cruises in Los Angeles, recorded a recurring profit of JPY1.1 billion in the review period, markedly better than the JPY 1.2 billion loss recorded in the same time last year. Operating result improved to show a profit of JPY1.2 billion compared to a loss of JPY1.1 billion, while revenues rose by one third, to JPY 24.9 billion from 17.9 billion.
“In the North American market, Crystal Cruises posted a large year-on-year increase in revenues due to robust sales, particularly for Mediterranean cruises,’ NYK said in the statement.
“In the Japanese market, Asuka Cruises sales were generally firm as a result of strong demand for mainstay summer cruises. Overall, the cruises segment posted a profit on sharply higher revenues compared with the same period of the previous fiscal year.”
In the first half of its financial year that began on 1 April, NYK’s cruise operations showed a profit of also JPY1.1 billion, while a year earlier, they had suffered a loss of the same size as the third and fourth quarters had been bad for the business.
