Cruise company in profits warning

Carnival, the world's largest cruise company, issued its second warning of sinking profits in less than three months as revenues fell and voyage cancellations increased in the wake of a series of major mishaps on its ships.

Shares were down nearly 13% in London after the company said full-year revenues, which were expected to be flat, would fall 2-3%, while earnings would also be hit. The expectations were also reduced in March when Carnival downgraded its hopes for revenue growth for the year.
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