© Thomson Reuters FILE PHOTO: Illustration shows Royal Caribbean logoBy Deborah Mary Sophia(Reuters) - Royal Caribbean Group raised its annual profit forecast after upbeat quarterly results on Thursday, cruising on the back of higher ticket prices and pent-up leisure travel demand, sending shares up nearly 8%. "We knew that demand for our business was strong ... (but) what transpired over the past four months was much better than we had anticipated," Royal Caribbean CEO Jason Liberty said. Royal Caribbean, which owns Celebrity Cruises and Silversea Cruises, said on-board and other revenue more than doubled to $988.6 million in the quarter. Royal Caribbean now expects annual adjusted profit of $4.40 to $4.80 per share, a "big uptick" from its earlier forecast of $3.00 to $3.60 per share. Earlier this week, rival Norwegian Cruise Line Holdings Ltd also raised its annual profit forecast.

Source: CBC News May 05, 2023 13:10 UTC