Star Cruises has posted a year-on-year 49.2 per cent surge in third-quarter profit on the back of increased capacity, higher occupancy rates and lower operating costs.
The world's fourth-largest cruise line operator said net profit for the three months to September was US$55.63 million, up from US$37.29 million previously.
Third-quarter turnover rose 17.8 per cent to US$447.37 million, while earnings per share were 1.28 US cents, against 0.9 US cent in the year-ago period.
The company's shares yesterday rose 10 HK cents to HK$2.20 on the news of its encouraging result. The company's shares have fallen 13.58 per cent this year.
Star Cruises listed on the Hong Kong exchange on November 30, 2000 and peaked at HK$8.127 on its second day of trade.
The company said yesterday: 'During this quarter, a capacity increase with higher occupancy drove the revenue growth.'
It said capacity days increased 14.4 per cent from 1.86 million to 2.13 million, while occupancy as a percentage of capacity days rose to 104 per cent from 102 per cent.