Cruise passengers for Margaritaville Turks hits historic highs

 


 

Margaritaville (Turks) Limited for the third quarter ended, February 28, 2025, reported a total of 390,443 passengers cruised into the Grand Turk Cruise Port, the highest passenger totals of any quarter, ever.

A total of 110 vessels visited the Port, for an average ship call of 3,549 passengers. Revenue of US$2.54 million was realized, resulting in average spend per passenger of US$6.50.

Passenger totals for the similar quarter in the prior year was 256,224 and revenue total was US$1.90 million, for an average spend rate of US$7.43.

Management noted “As passenger totals increase, as well as the size of the ships, the company expects that the average spend will fall but at a rate that will still equate to an increase in gross revenue.”

Net profit of US$437,451 was returned for an earnings per share (EPS) of 0.648 US cents. Net profit for the similar period in the prior year was US$222,174 for an EPS of 0.329 US cents.

For the nine-month period, there were 1.03 million passengers visiting the port. A total of 262 ships came into the port for the period, for an average ship call of 3,941 passengers.

Revenue realized was US$6.98 million for an average spend per passenger rate of US$6.76.

For the similar nine-months period in the prior year, 667,952 passengers visited the Port. Revenue realized was US$5.25 million, for a spend rate of US$7.28 per passenger.

Net profit earned was US$986,589 for an EPS of 1.462 US cents. For the similar period in the prior year, net profit of US$521,909 was earned for EPS of 0.773 US Cents.

The cost of sales (COS) component of the overall cost structure, experienced some pressure for both the Quarter and nine months periods, increasing by just under 1 percentage point and just over 1 percentage point respectively.

Management commented, “At an average COS of just over 26 per cent for both periods, management continues to strategise on other efficiencies that can contribute to a lowering of this cost component. The company is also paying keen attention to the global economic landscape and hope that the current situation will not cause upward movement in this cost category.”

All other cost categories increased in nominal terms to meet the increase in revenue, which was over thirty percent, for the nine-months period. All, except the rent category, increased at a lower rate than the increase in revenue. The rent category increase was over 50 per cent and was in line with the increase in passenger totals, which was over 50 per cent for the nine months.



Caribbean Money Daily

Photo: Dreamstime

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