Company Town

Reuters

* Theme parks: Euro Disney said Thursday it expects to continue a financial restructuring--which boosted its first-half results--at the troubled theme park near Paris. But Chairman Philippe Bourguignon stressed that he remains cautious on the outlook for the full fiscal year. "The positive effects of the financial restructuring, which significantly improved the group's financial performance in the first half of 1995, will continue in the second half of fiscal year 1995," Euro Disney said in its half-year report. "In addition, management believes that improvements in operating efficiency, marketing and distribution and sales will continue to help improve the performance of the group over the coming months," the report said. "However, the continued weak growth in European consumer spending, volatile and high short-term interest rates and instability in the global currency markets remain important areas of uncertainty," it said. The Euro Disney results, released April 21, show total revenue rose 11% to $351 million from $317 million in the previous year. Euro Disney's financial restructuring was completed last August.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
59°