| Carnival Corp performs well

CARNIVAL Corporation earned net profit of
US$216 million for the fourth quarter 2011,
down US$32m year-on-year, whilst its full net
income was US$1.9 billion, compared to net
income of US$2 billion the prior year.
The company attributed part of the dip to
the institution of its fuel derivatives program,
saying “it is more meaningful to evaluate its
earnings performance by excluding the impact of
unrealised gains and losses on its fuel derivatives
from net income and diluted earnings per
share until the gains or losses are realised”.
Meanwhile the company did clock a rise in
its full year revenues to US$15.8b for 2011, up
from US$14.5b in 2010.
“On the whole, 2011 was an encouraging year
for our global portfolio of cruise brands,” said
Carnival CEO Micky Arison said.
Our North American brands performed well,
achieving an almost 4% revenue yield increase,
while our European, Australian and Asian brand
yields were in line with the prior year (constant
dollars) despite having been significantly
impacted by the geo-political unrest in the
Middle East and North Africa,” he added.