Carnival announcies loss

A new Carnival cruise ship testing its new monitoring systems.

Carnival Corporation confirmed that during the first half of its fiscal year ended May 31, it lost $125 million, mainly related to high fuel prices.

In the same period last year the US Company had made a profit of $358 million.

The company explained in a press release that fuel prices increased 12% to $756 per metric ton, which led to an additional outlay of $71 million, although it also said that it will reduce costs in the near future.

In a further analysis, Carnival reports that its revenues surged by 1.1% in the first six months of its fiscal year, to $7,120 million, compared to $7,039 million a year earlier.

In the second quarter of its fiscal year, the company achieved a net profit of $14 million, 93% less than during the same period in 2011, when it earned $260 million.

This post is also available in: Spanish