Results round-up
First quarter results from Carnival made a splash as sales and earnings beat expectations and the cruise operator ran up higher guidance for the full year.
As well as lower fuel prices, advance bookings for the rest of 2016 were said to be "well ahead" of the prior year at "slightly higher" prices.
First-quarter net revenue yields were up 5.7% in constant currencies, beating the 3.5%-4.5% guidance issued in December, while adjusted earnings per share of $0.39 were almost double the $0.20 in the same period last year.
Earnings after unrealized losses on fuel derivatives and other net costs were $0.21 per share.
Net cruise costs rose more slowly than predicted, up 1.6% on the prior year versus the 2.5%-3.5% guidance.
For the full year, the Miami-based group raised its adjusted earnings per share guidance to a range of $3.20-$3.40, compared to December's guidance of $3.10 to $3.40.
Tasty, operator of the chain of Wildwood and Dim T restaurant chains, served up an appetising set of final results, with both sales and profits up 20%.
The AIM-listed company said current trading since the year end has been "broadly in line with expectations", which represents encouraging stability in the choppy seas of the eating-out sector where recent data found sales were flat in February and that the industry is expecting a tougher year ahead.
After opening 12 new Wildwood and Wildwood Kitchen restaurants and one new Dim T in the year, Tasty has opened two new restaurants since the year end to take its total to 50 and has two more sites under construction as it plans to accelerate its rate of development in the medium term.
Openings in the coming 12 months will expand the UK geographical footprint of the group," said chairman Keith Lassman.
For the previous 12 months of 2015, revenues swelled to £35.8m from £29.7m, while improving profit margins helped lift operating profits before individual restaurant pre-opening costs 28% to £3.95m.
Profit before tax gained 20% to £3.1m and earnings per share almost 20% to 4.64p..