Disney theme parks' profits boosted by summer visitors surge

Disney theme parks' profits boosted by summer visitors surge

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Surging summer theme park visits helped raise profits at the Walt Disney Company in the three months to September.

The global entertainments giant reported a total net profit of $1.6 billion for the period between July and September compared with $1.5 billion at the same time last year.

Parks and resorts revenue rose by 10% to reach $4.4 billion in the three month period. The division’s operating profit was up by 7% to $738 million year-on-year

The company attributed the growth to increased visitor numbers at parks in the US and Disneyland Paris.

Disney said: “Guest spending growth was primarily due to higher average hotel room rates and ticket prices for sailings at our cruise line as well as theme park admissions and increased merchandise, food and beverage spending.

“Guest spending growth at Disneyland Paris was due to increased food, beverage and merchandise spending as well as higher average hotel room rates and ticket prices.

“Increased volumes at Disneyland Paris were due to higher attendance and occupied room nights.”

Parks and resorts revenue for the year to October 3 rose by 7% to more than $16 billion with operating income up by 14% to more than $3 billion.

The results gave the company its fifth consecutive year of record performance, according to chairman and chief executive, Robert Iger.

“In fiscal 2015 we delivered the highest revenue, net income and adjusted EPS [earnings per share] in the company’s history, reflecting the power of our great brands and franchises, the quality of our creative content, and our relentless innovation to maximise value from emerging technologies,” he said.


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