NEWS
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Double digit growth for Disney as Shanghai boosts results for quarter |
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POSTED 10 May 2017 . BY Tom Anstey |
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Disney’s parks and resorts have enjoyed another strong quarter, with the company experiencing double digit growth in operating profits to US$750m (€689.5m, £579.2m).
The boost represented a 20 per cent increase on last year’s Q2 profits (US$624m, £481.9m, €574.1m), and has been attributed to the opening of Shanghai Disney Resort, which opened in Q3 2016.
Overall, Disney’s parks and resorts division recorded revenue for the quarter of US$4.3bn (€3.95bn, £3.3bn) – a 9 per cent increase on the same period for 2016 when it earned US$3.93bn (€3.6bn, £3bn).
In a trend impacting the whole of the attractions sector, the timing of the Easter holiday – which fell outside of the first three months of the year – had an effect on the quarterly the results.
Shanghai aside, operating income growth at Disney’s domestic parks also increased, with the results driven by increased attendance and spend on food and beverages (F&B), as well as increased income from Disney Springs.
However, revenue growth was knocked by higher labour costs, marketing expenses and unspecified efficiency initiatives.
“Our continued strong performance is a direct result of our proven strategic focus on great branded content, innovative technology and global growth,” said Disney chair and CEO, Bob Iger.
“We’re pleased with our results in Q2 and remain confident in our ability to continue to deliver significant shareholder value over the long term.”
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Disney increases investment in HK$10.9bn Hong Kong expansion following taxpayer complaints
POSTED 11 Apr 2017. BY Tom Anstey

Disney has addressed disgruntled taxpayers’ unhappiness over “unequal financing” in
Hong Kong by injecting a further HK$350m (US$45m, €42.4m, £36.2m) into the
company’s six-year, HK$10.9bn (US$1.4bn, €1.3bn, £1.1bn) facelift of its park, with the
operator also promising to waive part of its management fees for the next two years.
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Bob Iger extends Disney contract to 2019
POSTED 23 Mar 2017. BY Tom Anstey

After much speculation surrounding his future with the company, Bob Iger will extend his
tenure as Disney chief executive until July 2019.
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