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Article: EURO DISNEY SURPRISES ALL WITH ITS FIRST PROFIT.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- November 16, 1995
CopyrightCOPYRIGHT 1995 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: WILLIAM J. KOLE Associated Press
PARIS Mickey & Co. is making money, at last, in Europe.
For the first time in its history, Euro Disney, the company that operates Disneyland Paris, has reported an annual profit. Euro Disney said Wednesday it earned 114 million French francs, or $22.8 million, in fiscal 1995.
That's a stark contrast to the 1.8 billion franc, or $366 million, loss it posted a year ago and represents a faster recovery than expected.
``Our goal was to break even in 1996,'' said Steve Burke, Euro Disney's chief financial officer. ``This comes a year ahead of schedule, which for us is very good. We're now very ...