Business

Carnival profits fall as Concordia crash impact remains

  • 20 December 2012
  • From the section Business
Giglio Port
A total of 32 people died when the Costa Concordia hit rocks in January of this year

Cruise company Carnival has reported another big fall in profits, as it continues to be affected by January's capsizing of its Costa Concordia ship off the coast of Italy.

Carnival made a net profit of $93m (£57m) in the three months to 30 November, down from $217m last year.

Revenues at the British-American group fell to $2.7bn from $2.8bn.

Carnival has seen a fall in bookings since the capsizing, despite offering substantial price cuts.

A total of 32 people died when the Costa Concordia hit rocks off the coast of Italy on 13 January.

Carnival said it was also being affected by the weak European economy and high fuel prices.

Looking ahead, the company said its bookings for 2013 "continue to be behind" this year's levels.

Carnival chief executive Micky Arison said: "As a result of the Costa Concordia tragedy in January, the past year has been the most challenging in our company's history."

The company's shares are listed in both New York and London. Its US shares were down 5.4% in late morning trading.

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