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The Carnival Freedom sails by San Giorgio Maggiore church in Venice, Italy.
The Carnival Freedom sails by San Giorgio Maggiore church in Venice, Italy.
(Andy Newman/Reuters)

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Back on course, but no carnival for cruise operator

It is almost a year since the cruise liner Costa Concordia capsized just off Italy. Carnival, its owner, is still feeling the consequences of that tragedy and a fire on another Costa ship shortly afterward. The company – which controls half of the global cruise market – was able to limit the fall in revenue to 3 per cent over the year, but operating profits were 27 per cent down as margins collapsed.