Swine flu fears, poor weather dampen numbers
TOKYO — Oriental Land, the operator of Tokyo Disneyland, has reported a 78% year-on-year drop in net profit for the June quarter to $4.9 million.Meanwhile, operating profit slid 74% to $127 million, and sales were down 4% to $820 million. Results mark the first time the park has reported a fall in April-June sales and profits in four years. One reason for the plunge is the dropoff in visitors from the previous quarter, when Tokyo Disneyland celebrated its 25th anniversary with splashy special events. In addition, the swine flu scare and bad weather held down visitor numbers. For the fiscal year ending in March 2010, Oriental Land is now predicting that operating profit will decrease 15% year on year to $362 million, and sales will be down 5% to $3.9 billion. Net profit, however, is expected to grow 14% year on year to $22 million.
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