Norwegian records increase in profits over first quarter

Norwegian records increase in profits over first quarter

Norwegian Cruise Line has reported financial results for the first quarter ended March 31st 2016, revealing adjusted EPS growth of 41 per cent to $0.38 on adjusted net income of $86.7 million.

EPS increased to $0.32 on net income of $73.2 million.

The company’s current booked position for 2016 is on par with prior year’s record levels and at higher prices.

Constant currency adjusted net yield increased 3.6 per cent, driven primarily by solid demand in the Caribbean and strong on-board revenue.

Gross Yield increased 2.4 per cent.

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“We are pleased to report another quarter of solid financial performance and significant earnings growth driven primarily by strong pricing with robust demand in the Caribbean driving net yield growth above our expectations,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line.

“We are on track to reach our stated targets of $5.00 Adjusted EPS in 2017 and double-digit return on invested capital on an adjusted basis in 2016, growing to 14 per cent by 2018.

“Our recent announcements regarding our China-dedicated ship, Norwegian Joy, have been extremely well-received in the Chinese market giving us strong momentum prior to the ship’s introduction in 2017,” continued Del Rio.

Total Revenue for the company increased 14.9 per cent to $1.1 billion, compared to $938.2 million in 2015.