EURO DISNEY EARNINGS HIT BY DOWNTURN

Cash strapped visitors have stayed away from Euro Disney

Earnings at theme park operator Euro Disney have dropped sharply after the economic downturn hit visitor numbers.

In the six months to 31 March 2010, the group's net earnings fell by 32% to 95.2m euros ($121m; £82m) from sales that were down by 7%.

Visitors to Europe's biggest theme park, especially from the UK and the Netherlands, have dropped by 8% on last year.

Holiday habits have changed with fewer people visiting for short breaks.

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Last year revenues had not been fully impacted by the economic decline, partly because of the way guests book their vacations in advance of visits

Philippe Gas
Chief executive, Euro Disney
Corporate-related tourist activities have also declined.

On the positive side, Euro Disney managed to squeeze an average extra 1% spending out of guests, partly offsetting the declining numbers.

Euro Disney chief executive Philippe Gas said: “The continued challenging economic context is reflected in our first half revenues and net results.

“For the same period last year, revenues had not been fully impacted by the economic decline, partly because of the way guests book their vacations in advance of visits.”