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Euro Disney losses narrow as debt interest falls Euro Disney losses narrow as debt interest falls
(12 days later)
Euro Disney said it was cautious for the rest of the year due to the difficult economic environment as it posted a fall in net losses for the half year on lower debt interest payments.Euro Disney said it was cautious for the rest of the year due to the difficult economic environment as it posted a fall in net losses for the half year on lower debt interest payments.
The group, which operates Disneyland Paris, completed a refinancing agreement in September with its parent Walt Disney and two of its French subsidiaries, for €1.332bn of debt.The group, which operates Disneyland Paris, completed a refinancing agreement in September with its parent Walt Disney and two of its French subsidiaries, for €1.332bn of debt.
The group net loss attributable to the first half of 2012-2013 amounted to €89.1m, against €100.8m a year earlier and lower than analysts' expectations. During the first half of the previous year, the group repaid bank loans for €64.3m.The group net loss attributable to the first half of 2012-2013 amounted to €89.1m, against €100.8m a year earlier and lower than analysts' expectations. During the first half of the previous year, the group repaid bank loans for €64.3m.
Half-year sales rose 3% to €567.7m after a 4% increase in average spending per visitor, which rose from €44.11 to €45.97.Half-year sales rose 3% to €567.7m after a 4% increase in average spending per visitor, which rose from €44.11 to €45.97.
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