- Cruise line group Carnival reported a fall in fourth-quarter profit, though its adjusted profit and sales both rose above expectations and it forecast a potential rise in adjusted profit in 2020.

In the fourth quarter, net income fell to $423m, or $0.61 of earnings per share, down from $494m, or $0.71 per share, on-year.

That brought income for the year through November to $3.0bn, or $4.32 of earnings per share, down from $3.2bn, or $4.44 per share on-year.

However, adjusted profit for the full year was $3.0bn, or $4.40 of earnings per share, compared to $3.0bn, or $4.26 per share on-year.

For 2020, Carnival forecast adjusted earnings per share to be in the range of $4.30 to $4.60.

Revenue in 2019 rose to $20.8bn, up from $18.9bn on-year.

'Exceeding our fourth-quarter guidance enabled us to have strong full year earnings per share and another year of record adjusted earnings,' chief executive Arnold Donald said.

'We overcame a high number of unusual events compounded by a significant downturn in leisure travel demand for our large source markets in Continental Europe.'

'In that environment, to achieve record revenues and adjusted earnings is an accomplishment for any consumer company, a credit to our 150,000 team members and demonstrates the robustness of our business model.'

At 3:09pm: [LON:CCL] Carnival PLC share price was +249.5p at 3607.5p

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