Louis plc, publicly listed holding company for Louis Cruises, reported a year-over-year profitability of nearly $4.1 million. Based on the analysis for the first nine months of 2013, these results are partly due to the cruise line’s increase in sales.
Louis Cruises improved in its profitability, succeeding in recording an operating profit of $31.5 million (23.7 percent) compared to $16.8 million (13.4 percent) during the same period last year. This is due to reduction of operating costs by 6.9 percent and an increase of turnover (more than 6 percent).
Louis plc’s operating profit amounted this year to $70.5 million compared to $50.2 million last year, recording an improvement of $27.8 million.
The profit of Louis plc from operations before net finance expenses, for the nine months of 2013, increased from $14.9 million to $36.1 million, an increase of $21.2 million. Also, the decrease in net finance expenses widened the positive deviation of this year’s results compared to last year results, registering an increase in net profit from operations by $22.9 million.
The overall improvement in the results of Louis plc during the first nine months of 2013 was possible with a small increase in the turnover of the Group. This increase resulted mainly from the activities of Louis Cruises from the chartering sector and from an increase in sales from Piraeus. Regarding the turnover of Louis Hotels, this showed a lower increase of 3 percent due to four hotels being closed for renovations during the first months of the year.
Louis Cruises will also be offering new itineraries for 2014. The company is nearly doubling the number of ports it calls at for 2014 with the introduction of nine new destinations including: Samos, Milos, Syros, Kos, Ios, Symi, Chios, Cesme and Bodrum. Louis Cruises’ 2014 itineraries will sail to Mykonos, Patmos, Rhodes, Heraklion (Crete) , Santorini, Istanbul, and Kusadasi, and also to the lesser-known ports. The 2014 Mediterranean cruise programs will take place onboard Louis Rhea and Louis Olympia.
Louis Cruises’ itineraries can be booked online at www.louiscruises.com.