Shares in Carnival Corporation were down on the FTSE 100 in afternoon trading after the holiday cruise company reported a rise in revenue for the third quarter ended 31 August.
Revenue was reported as rising from $4.1 billion in the previous year to £4.4 billion, while net revenue yields in constant dollars rose 6.2 per cent.
Fuel prices rose 17 per cent from the same period last year to $473 per metric ton, however excluding fuel the cost per available lower berth day dropped 2.4 per cent.
Earnings per share in the third quarter rose 22 per cent to $1.62 and were only three per cent short of record Q3 profits, Carnival claimed.
Carnival said that booking volumes for the rest of 2010 and for the first half of 2011 are ahead of last year but at prices similar to last year.
In the full year net revenue is expected to rise 2.5 per cent, while full year earnings per share are expected to be $2.48 to $2.52.
Micky Arison, Chairman and Chief Executive Officer of Carnival Corporation, said, "Despite ongoing economic concerns, cruise ticket prices remained strong close to sailing rewarding consumers that booked early. We enjoyed robust demand across all products during our seasonally strong summer period. Our North American brands experienced a significant rebound in peak season revenue yields, increasing more than 10 percent over weak 2009 comparisons. Revenue yields for our European brands, which absorbed an 8 percent capacity increase, were up 1 percent (constant dollars) cycling relatively strong performance in the prior year. At the same time, our ongoing cost control efforts continued to bear fruit as we drove down operating, selling and administrative costs globally."
"The booking environment has remained solid and we expect revenue yields to continue to improve in 2011 and beyond as the economy regains its footing. Consumers continue to embrace vacations as a much needed escape from the rigors of daily life, while cruising remains an increasingly attractive option for those seeking greater value for their vacation dollar."
By 14:25 shares in Carnival Corporation were down 1.53 per cent on the FTSE 100 to 2,451.00 pence per share.