Norwegian Cruise Line Holdings raised Wednesday its profit projection for the full year for a record third time in this calendar year. The company attributed it to a sustained holiday demand on ships and higher prices for itinerary.

In premarket trading, shares of the company that have dropped over 7% in this year rose by 2.4%.

Operators have been able to raise ticket prices due to the record-breaking bookings for cruises that are affordable.

Harry Sommer, CEO of the company said: "We are raising our guidance for 2023 by a third year. We expect that our profit will grow 120% in comparison to last year."

Cruise operator expects a profit adjusted to $1.53 per share in fiscal 2024 versus its prior forecast of $1.42.

In recent weeks, rivals Carnival and Royal Caribbean Group also increased their profit estimates despite ongoing concerns about the impact of rising costs. (Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh Kuber)

(source: Reuters)