Shares in Carnival plc, the UK based holding company in Carnival Corp & plc group, extended losses on the London Stock Exchange on Wednesday morning after the dual listed Anglo-American company had on Tuesday warned of weakness in pricing in the Caribbean in the third quarter of its financial year.
Carnival plc fell about 2% in early London trading to £22.55. On Tuesday, they closed 1.6% lower at £22.76. In NewYork, Casrnival Corporation, the Panama domiciled and US based holding company fell 2.99% to close at $38.26
“Third quarter constant dollar net revenue yields are expected to be flat to down 1% compared to the prior year due primarily to a significant industry capacity increase in the Caribbean. Net cruise costs excluding fuel per ALBD for the third quarter are expected to be 1% to 2% higher on a constant dollar basis compared to the prior year,” the company said in a statement on Tuesday
“Based on the above factors, the company expects non-GAAP diluted earnings for the third quarter 2014 to be in the range of $1.38 to $1.44 per share versus 2013 non-GAAP earnings of $1.38 per share,” Carnival said.