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lthough quarterly results are

just one way of measuring

the success of publicly listed

cruise lines vis a vis their

competitors, they are eagerly

awaited by press and pundits and by the

cruise operators’ financial professionals –

and are picked apart with great attention

to detail when released. The 2015 second

quarter results for Royal Caribbean

Cruises Ltd., released in July, did not

disappoint. The company reported a 26%

increase in second quarter earnings and

said it expected full year earnings to be

almost 40% above last year.

Net yields were up 4.2% thanks to

strong performance in the Caribbean and

China, both of which regions are predicted

to continue to impress. Other key drivers

of growth in recent months are factors

outside of the company’s control – foreign

exchange and fuel rates – but they added

to the beneficial effects nonetheless.

Gratifying bookings levels led the company

to predict another record year of earnings,

with positive trends extending into the

first quarter of 2016 and bookings for that

quarter setting higher prices.

Royal Caribbean hailed “another

solid step towards the Double-Double”

as earnings per share continued to edge

upwards. The company’s Double-Double

programme, launched in July 2014,

Royal Caribbean Cruises Ltd.’s chairman and CEO, Richard

Fain, is tracking some encouraging trends across the brands

he oversees. Michele Witthaus gets the details



and a virtuous circle