Carnival Corp reports strong forward bookings following record summer
Overall forward bookings for Carnival Corporation cruise brands for the first half of 2017 are ahead of the same time last year at “considerably” higher prices.
The disclosure from the world’s largest cruise line conglomerate – which accounts for 10 lines including P&O Cruises and Cunard - came as it projected profit growth of almost 25% this year.
The group reported net income for the three peak summer months to August 31 up to $1.4 billion from $1.2 billion in the same period last year.
President and chief executive Arnold Donald said: “We delivered the strongest quarterly earnings in our company's history affirming our ongoing efforts to expand consumer demand in excess of measured capacity increases and leverage our industry leading scale.
“Revenues during the peak summer season were bolstered by strong performances from both our North American and European brands and across all major deployments including the Caribbean, Alaska and Europe.”
Looking forward, the company said: “At this time, cumulative advance bookings for the first half of next year are ahead of the prior year at considerably higher prices.
“Since June, booking volumes for the first half of next year are lower than the prior year, as there is less inventory remaining for sale, at significantly higher prices.”
Donald added: "We are well on track to deliver nearly 25% earnings growth in 2016. With cash from operations expected to reach a record $5 billion this year, we continue to fund our growth and return cash to shareholders.
"Looking forward, we are well positioned for continued earnings growth given the current strength of our booking and pricing trends in 2017."