Euro Disney's losses down as sales rise

Euro Disney says first-half net losses narrowed on the back of a 4.2 per cent rise in sales to euro 420 million.

Euro Disney says first-half net losses narrowed on the back of a 4.2 per cent rise in sales to euro 420 million.

This rise reflected growth in the resort and real estate segments of the business.

The company, which owns and operates Disneyland Paris, said theme park sales rose 4.6 per cent to euro 185.2 million, driven primarily by higher attendances and stable spending per guest.

Euro Disney said: "Hotel occupancy reached a record level, well in excess of any first-half occupancy reported since the opening of Disneyland Paris Resort in 1992."

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Looking ahead, the company said the building of its Walt Disney Studios complex is on budget and on time for its spring 2002 opening date.

"As of March 31st, 2001, capital expenditure for the construction of Walt Disney Studios totalled euro 241.6 million," it said. PA