Carnival announces $65 million profit for first quarter

Carnival announces $65 million profit for first quarter

Cunard parent company Carnival Corporation has announced a profit of $65 million for the first quarter of 2013, but warned that economic uncertainty in Europe continues to hinder growth.

The first quarter profit is up from $13 million during the same period in 2012, although Carnival said that cumulative advance bookings for 2013 are behind the previous year.

However, it said that since January, booking volumes for the remainder of the year, including Costa Cruises, are running “significantly higher than last year at slightly higher prices”.

Carnival Corporation chief executive and chairman Micky Arison said: "Booking volumes during our seasonally strong wave period have remained solid with pricing comparisons improving in recent weeks.

“However, economic uncertainty in Europe continues to hinder yield growth.

“Despite considerable attention surrounding the Carnival Triumph, we had been encouraged to see booking volumes for Carnival Cruise Lines recover significantly in recent weeks.”

He added: “Attractive pricing promotions, combined with strong support from the travel agent community and consumers who recognise the company’s well-established reputation and quality product offering, were driving the strong booking volumes.” 

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