Finance: Euro Disney experiencing financial gains

Posted at 5:52 PM EDT (2152 GMT)

Apr. 29th, 2005 -- Euro Disney reported yesterday that profits for the first quarter of 2005 rose 8 percent and that its losses had decreased significantly. This comes as good news for the financially-troubled company, which operates Disneyland Paris.

Euro Disney attributed the gain due to an early Easter season that brought in visitors before the end of the first quarter on March 31 and a reduction in spending. The park's attendance rose from 5.6 million last year to 5.7 million.

The company's chief financial officer said Euro Disney would not make a profit this year and did not announce when he expects it to. The company's stock closed yesterday at about 13 cents.

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