Carnival buoyed as Royal Caribbean reiterates targets
Cruise operator Carnival rose three per cent in afternoon trade on Thursday, making it the top riser among FTSE 100 stocks, buoyed by news that its US rival Royal Caribbean has raised its full-year forecast.
Cruise operator Carnival rose three per cent in afternoon trade on Thursday, making it the top riser among FTSE 100 stocks, buoyed by news that its US rival Royal Caribbean has raised its full-year forecast.
Royal Caribbean now expects 2012 earnings of $1.85 to $1.95 per share, 15 cents higher than its previous target range.
The cruise industry was hit hard earlier in the year after one of Carnival's own ships, the Costa Concordia, grounded off the coast of Italy, killing dozens of passengers and crew.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Carnival had to cut prices to get people back on board with the idea of cruise holidays after the disaster back in January. The hope must be that this is now water under the bridge.
Royal Caribbean said that the effect of that accident "has continued to wane" and that bookings in the third quarter were stronger than it had expected, even in Europe, where news of the Costa Concordia accident drifted around for months.
On September 25th, Carnival posted a year-on-year decline in net revenue yields for the third quarter to the end of August despite continuing strength in fleetwide booking volumes and pricing trends since June.
-
Hargreaves Lansdown bumps up cash ISA with £25 cashback - does it beat the wider ISA market?
Just days before the end of the tax year, Hargreaves Lansdown has launched a £25 bonus for those who open a cash ISA on its savings platform. Does the bonus make it a competitive rate, and are you eligible for the cashback?
By Vaishali Varu Published
-
FCA targets finfluencers with new social media guidance
So-called finfluencers have been warned by the UK financial watchdog that they could face prosecution if they fail to follow new rules.
By Henry Sandercock Published