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Disney sees increased profits, but advance bookings drop
The Walt Disney Corporation has warned that its parks and resorts’ advance bookings have fallen up to 10 per cent, despite reporting profits for the year.
In its annual results, the company announced that its parks and resorts division had seen an 8 per cent increase in revenues to US$11.5bn (£7.25bn, 8.9bn euro) and operating income jump 11 per cent to US$1.9bn (£1.2bn, 1.48bn euro).
For the last quarter however – ended 29 September – revenue increased 7 per cent to US$3bn (£1.89bn, 2.34bn euro), while operating income dropped 4 per cent to US$412m (£260.5m, 321.9m euro). The company said this was down to a decrease in domestic operations, but that it was partially offset by an increase at Disneyland Resort Paris.
The company said that its French site benefited from increased guest spending, higher theme park attendance and the favourable impact of currency translation.
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