PARIS: France’s Euro Disney, the European outpost of the Disney empire, reported a 56 million euroannual net loss yesterday amid a lacklustre climate for tourism and as its new park failed to meet expectations.
The theme park operator’s loss for the year ended September was smaller than analysts’ forecasts of 59 million euros but wider than a loss of 33.1 million a year ago. Its loss before exceptional items was 67.9 million euros versus a 4.9 million euros profit the year before. Euro Disney is continuing to negotiate with its creditor banks after winning a 6-month moratorium on its debt payments expiring in March 2004. – Reuters
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