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Euro Disney reports reduced losses

Revenues climb at Disneyland Paris

Euro Disney reported that it reduced net losses in the year to September by just over half to e41.6 million ($61 million), down from $129.9 million, as revenues at the Disneyland Paris resort jumped 12% to $1.79 billion.

The company swung to an operating profit of $74.5 million from a loss of $3.52 million a year earlier.

Euro Disney attributed the turnaround mainly to more theme park attendance and higher hotel occupancy. Park revenues increased 14% to $965.5 million, primarily due to a 1.7 million rise in visitors on the year to 14.5 million.

Euro Disney said it will implement a previously approved 1-for-100 reverse share split on Dec. 3.

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