Royal Caribbean Cruises warns over Med but predicts record year

Royal Caribbean Cruises warns over Med but predicts record year

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Royal Caribbean Cruises is seeing “headwinds” from the Mediterranean this summer yet is still projecting a record year.

The company's overall booking position remains strong, similar to last year's record high levels.

“However, China is a closer-in booking environment making it harder to compare positions,” the company said. “Excluding China bookings, the company's booked position is well ahead of last year's.”

The disclosure came as the parent of brands such as Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises reported that adjusted net profit for the first quarter of the year almost tripled to $124 million from $45.2 million in the same period in 2015.

Chief financial officer, Jason Liberty, said: "The first quarter has given our year momentum, which is more than offsetting some headwinds from the Mediterranean.

"This performance is positioning us for the highest earnings in company history."

Passenger ticket revenues for the three months to March 31 increased to $1.37 billion against $1.30 billion year-on-year with onboard and other revenues up to $539,628 from $508,820.

This came as carryings increased from 1.33 million to 1.40 million.

Chairman and chief executive, Richard Fain, said: "What an exciting quarter in an exciting year. Our brands continue to excel and produce gratifying results.”


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