Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, has reported first quarter net profit of $45.2 million, a marked increase from $26.4 million in the same period a year earlier. Revenues fell slightly, to $1.82 billion from $1.88 billion.
Earnings per share rose to $0.20 compare to the company’s own forecast of $0.10 to $0.15.
“Commercially the year is turning out as expected, with strong booking trends and yield growth for all major products. The strengthening of the US Dollar and the rise in fuel prices are negatively affecting earnings, but cost efficiencies are mitigating a large portion of the impact,” the company said in a statement.
Net yields fell by 1.0% on a constant currency basis (down 5.4% As-Reported). “Strong close-in pricing on Caribbean sailings drove the better than anticipated performance.
Net cruise costs excluding fuel increased 0.9% on a constant currency basis (down 1.7% As-Reported), significantly better than guidance driven by further efficiencies,” RCCL said.
