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Numbers down at Walt Disney
An earnings statement for the Walt Disney Company's 2009 financial year shows that revenues at its Parks and Resorts division were down seven per cent at US$10.7bn (£6.4bn, 7.2bn euro), compared with the same period last year.
Operating income for the year fell by 25 per cent to US$1.4bn (£841m, 941m euro), while for the final quarter the figures for the sector were down 4 per cent to US$2.8bn (£1.7bn, 1.9bn euro) and 17 per cent to US$344m (£206.7m, 231.4m euro) respectively. The company said the results reflected decreases both at its US operations and at Disneyland Paris.
For the year, spending at all of them was down, mainly due to lower average ticket prices, lower average daily hotel room rates and visitors spending less on merchandise. Disneyland Paris also suffered from a drop in hotel occupancy numbers. For the final quarter, the falls at Walt Disney's domestic US sites - which were also affected by people spending less on food and drink - were partially offset by there being an extra week of operation during the period.
Full year revenues for the company as a whole - which includes Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive Media - were US$36,149,000 (£21.7m, 24.3m euro) compared with last year's US$37,843,000 (£22.7m, 25.5m euro), a drop of four per cent.
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