Carnival Corporation chief Micky Arison has voiced optimism over improved booking levels ahead of the peak ‘wave’ booking period in January.
He was speaking as the world’s largest cruise conglomerate saw annual profits rise to $2 billion to the year ending November 30, up from $1.8 billion the previous 12 months.
The year-end result was fuelled by fourth quarter net profits rising from $193 million to $248 million on revenues up from $3.3 billion to $3.5 billion.
Chairman and chief executive Arison said: “Booking trends have continued to improve for both our North American and European brands, particularly for our peak summer season.
“We are optimistic these positive trends are an indicator of a strong wave season, our heaviest booking period which begins in early January.
“Given the recent cold weather and snow, particularly in the Northern US and Europe, there is no better time to book a cruise vacation.”
Reviewing the past year, Arison said: “All-in-all, 2010 was an encouraging year with improved business trends from a gradually recovering economy.
“We achieved an 11% increase in net income on 7% higher revenues. We recovered almost three points of revenue yield from 2009’s levels, while improved processes and efficiencies led to a 3% reduction in unit costs excluding fuel.
“Cash from operations increased 14% to reach $3.8 billion, more than enough to fund our expansion programme which peaked this year at a capital investment of $3.6 billion. We also reinstated the dividend early in 2010 at an initial rate of $0.10 per quarter.”
The parent company of brands such as P&O Cruises, Cunard and Princess Cruises said it took advantage of attractive shipyard prices to order three more vessels during the year, bringing the order book to 10 ships to be delivered by 2014.