MARKET WATCH: Carnival cruises to record revenue as profits double

By CITY & FINANCE REPORTER

Updated: 21:50 GMT, 21 March 2025

Cunard and P&O Cruises owner Carnival raked in record revenues in the first quarter as holidaymakers took to the seas in their droves.

The company, whose ships include the Queen Mary 2, Queen Elizabeth and Queen Victoria, said sales hit £4.5billion in the three months to the end of February. 

Profits almost doubled to £418m. But shares dipped 0.1 per cent, or 1.5p, to 1449p as these numbers left investors cold.

The FTSE 100 fell 0.6 per cent, or 55.20 points, to 8646.79 and the FTSE 250 was down 0.9 per cent, or 186.48 points, to 19,911.50. Airline stocks fell after Heathrow was hit by a power cut. British Airways owner IAG dropped 1.9 per cent, or 5.4p, to 285.2p.

Popular: Carnival said sales hit £4.5billion in the three months to the end of February

Retailer JD Sports was down 5.1 per cent, or 4.06p, to 75.76p after a disappointing update from Nike – which makes up around half of its sales.

And BP, up 0.3 per cent, or 1.5p, to 450p, has agreed to sell a 25 per cent stake in its pipelines division for £770m to private equity group Apollo.

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MARKET WATCH: Carnival cruises to record revenue as profits double

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