Q2 result for Carnival undermined by fuel hedging
Carnival’s decision to adopt fuel hedging has spoiled a robust second quarter rebound from the Costa Concordia and Costa Allegra trauma and a huge one-off loss booked in the first quarter.
Photo - Carnival Australia
The world’s biggest cruise operator reported a second-quarter net profit of $14m, compared with a profit of $204m a year ago.
The second-quarter result was dented by an unrealised charge of $145m on fuel hedges. The company did not actually realise...
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