Royal Caribbean Cruises sees net profits increase

25th Oct 2013
Royal Caribbean Cruises sees net profits increase

Royal Caribbean Cruises has reported adjusted net profit of $377.9 million for the three months ended September 30th, up from $367.8 million for the same period last year.

Describing the results as “better than expected” the cruise line said revenue was up 3.3 per cent to $2.31 billion.

Net profit including $12.2m of restructuring and related charges came to $365.7 million or $1.65 per share.

RCL chairman Richard Fain said: “We are beginning to see the payoff from our efforts to improve returns during these challenging times.

“We have a ways to go, but our strategy and our investments are driving higher revenues and achieving cost efficiencies that bode well for 2014 and beyond.”

Third quarter net yields on a constant currency basis were up 2.6 per cent at $202.46, with ticket revenue, particularly in Europe, exceeding expectations, and on-board revenue yields rising seven per cent.

The company said its outlook had improved for the full year 2013 and it now expected net yields on a constant currency basis to rise by about three per cent versus two-three per cent guidance given with its second quarter results.


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