Carnival reports record revenue, profits nearly double

Carnival Cruises reported strong financial results for the first quarter of 2025. The company, which owns popular cruise lines like Cunard and P&O, achieved record sales of £4.5 billion from December through February. Its profits nearly doubled to reach £418 million during this period. Despite these impressive numbers, Carnival's shares fell slightly by 0.1 percent, losing 1.5 pence to drop to 1,449 pence. This decline came as part of a broader trend, with the FTSE 100 index decreasing by 0.6 percent and the FTSE 250 down by 0.9 percent. Other sectors were affected as well. Airline shares dropped after Heathrow airport experienced a power outage. British Airways' parent company, IAG, saw shares fall by 1.9 percent. Retailer JD Sports also struggled, with shares down 5.1 percent following disappointing news from Nike, a key supplier. In the energy sector, BP's shares rose slightly after the company announced it would sell a 25 percent stake in its pipelines division for £770 million to private equity group Apollo.