Carnival Cruises Reports Record First Quarter Revenue as Profits Surge
Carnival Corporation, the owner of cruise lines Cunard and P&O Cruises, reported record revenues for the first quarter, boosted by strong demand from travelers.
The company, known for its fleet including the Queen Mary 2, Queen Elizabeth, and Queen Victoria, stated that revenue reached £4.5 billion in the three months ending in February.
Profits nearly doubled, climbing to £418 million. However, company shares experienced a slight decrease of 0.1 percent, or 1.5p, to 1449p, as these figures did not meet investor expectations.
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Market Overview: FTSE 100 and FTSE 250 Decline
The FTSE 100 index experienced a decline of 0.6 percent, or 55.20 points, closing at 8646.79. Similarly, the FTSE 250 fell by 0.9 percent, or 186.48 points, to 19,911.50. Airline stocks witnessed a downturn following a power outage at Heathrow Airport. International Airlines Group (IAG), the parent company of British Airways, saw its shares decrease by 1.9 percent, or 5.4p, to 285.2p.
Strong Performance: Carnival reported sales of £4.5 billion in the first quarter.
Retail and Energy Sector Updates
JD Sports, a prominent retailer, saw a 5.1 percent decrease, or 4.06p, in its shares, falling to 75.76p. This drop followed a weaker-than-expected update from Nike, which accounts for approximately half of JD Sports’ sales.
In contrast, BP experienced a slight increase of 0.3 percent, or 1.5p, reaching 450p. The company has agreed to divest a 25 percent stake in its pipelines division to private equity firm Apollo for £770 million.