Norwegian Cruise Line has reported increased profits of $759.9 million for 2017.

The figure, published in its year end results, represents a 20% increase compared to 2016.

Revenue increased by 10.7% to $5.4 billion compared to $4.9 billion in 2016.

The company said the increases were down to a 6% increase in capacity days following the delivery of Norwegian Joy in April, Regent’s Seven Seas Explorer in June 2016 and Oceania Cruises’ Sirena in April 2016.

Profits for the fourth quarter reached $98.8 million compared to $72.2 million the previous year, while revenue increased 11.1% to $1.2 billion compared to $1.1 billion in 2016.

NCL is predicting a fifth year of double-digit growth in 2018 with “load factor and pricing higher than prior year” across all three brands.

Norwegian Bliss, designed for the Alaska cruise market, will join the fleet in the second quarter.

Frank Del Rio, president and chief executive officer, said: “The strong, record performance we delivered in 2017 was the perfect end to a historic year as we celebrate the five year anniversary of our initial public offering.

“It has been a remarkable journey for our company with more major milestones to come and an amazing trajectory of profit growth for 2018 and beyond. Our solid revenue and earnings performance will continue in 2018, having entered the year in the best booked position in our Company’s history with pricing above prior year across all three of our brands.”