Euro Disney hit by 56 mn euro loss despite higher revenue

9th November 2011, Comments 0 comments

French theme park operator Euro Disney on Wednesday reported a net loss of 55.6 million euros in the year to September due to decreased real estate profit and higher costs.

The loss, which compares with a 39.9 million euro ($54.6 million) deficit in the previous year, was despite an increase in attendance and guest spending at the company's theme park outside Paris.

"Our resort revenues increased by five percent, reflecting growth in both guest spending and resort volumes," CEO Philippe Gas said in a statement.

"In fact, we grew our attendance in most of our key markets, by 600,000 overall to 15.6 million, even as our summer season was impacted by the weaker European economic environment," he said.

"We remain confident in our business and look forward to the upcoming year."

The company said real estate development net profits were down 62.4 percent to 22.5 million euros, while costs and expenses were up 3.7 percent at 1.28 billion euros.

© 2011 AFP

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