Euro Disney posts 82.7 million euro H1 net loss
Tue April 29, 2003 01:31 AM ET
PARIS (Reuters) -- French theme park operator Euro Disney posted a hefty first-half net loss on Tuesday despite help from the Walt Disney Studios, its newly built second park.
The European outpost of the Walt Disney Co said in a statement that its net loss in the six months to end-March totalled 82.7 million euros, wider than a 77 million euro net loss last year.
Operating profit emerged at 16 million euros, down 62.4 percent, compared to 42.5 million. Sales totalled 472.6 million euros.
Analysts had been reluctant to give forecasts due to a lack of financial information from the company, but some had expected its net loss to narrow to roughly 40 million euros, and sales to rise to around 499 million euros.
The company, which has just appointed Andre Lacroix its new chairman, opened the Walt Disney Studios next to the Magic Kingdom in mid-March last year. But attendances have lagged the company's hopes.
Tue April 29, 2003 01:31 AM ET
PARIS (Reuters) -- French theme park operator Euro Disney posted a hefty first-half net loss on Tuesday despite help from the Walt Disney Studios, its newly built second park.
The European outpost of the Walt Disney Co said in a statement that its net loss in the six months to end-March totalled 82.7 million euros, wider than a 77 million euro net loss last year.
Operating profit emerged at 16 million euros, down 62.4 percent, compared to 42.5 million. Sales totalled 472.6 million euros.
Analysts had been reluctant to give forecasts due to a lack of financial information from the company, but some had expected its net loss to narrow to roughly 40 million euros, and sales to rise to around 499 million euros.
The company, which has just appointed Andre Lacroix its new chairman, opened the Walt Disney Studios next to the Magic Kingdom in mid-March last year. But attendances have lagged the company's hopes.