ROYAL Caribbean International has reported a leap in net profits to $330.8m for 1998, up from $175.1m in the previous year.
The income figure takes into account lost earnings due to the grounding of Monarch of the Seas as it was leaving St Maarten in December.
Turnover increased by 36% to $2.6bn. The company attributed this to a rise in capacity of almost a third following the acquisition of Celebrity Cruises and additions to Royal Caribbean’s fleet.
The cruiseline claimed that another reason for the increase in turnover was an improvement in yield, the result of improved ticket pricing and higher occupancy levels.
Passenger cruise days rose from 8.76m in 1997 to 11.6m last year.
Chairman and chief executive officer Richard Fain claimed the results reflected the culmination of a number of factors including a “seamless” merger with Celebrity, outstanding market conditions and progress in reducing costs.
Royal Caribbean and Celebrity have a joint fleet of 17 ships.
It is scheduled to take delivery of seven new ships between now and 2002.