Demerged Cruise Lines Post Good Profits
Thursday, November 09, 2000
P&O Princess Cruises, the cruise unit that demerged from British shipping giant P&O, posted an eight percent rise in third quarter operating profit to $268 million. The company, which in the last few months has ridden the storm of rough trading conditions and high fuel costs, said in a statement that pricing in the next two quarters were still challenging. "But the market is continuing to grow and the fundamentals of the cruising industry remain sound," it added.