Euro Disney in the black for the first time
Euro Disney announced July 25 its first quarterly profit since the theme park opened three years ago. In the quarter ended June 30, Euro Disney reported a profit of $35 million compared with a $114 million loss in the same period a year earlier. Revenues grew 17% to $283 million in the same period. Euro Disney officials attribute the turnaround to a new marketing strategy that cut the price of entrance tickets and also to lower interest payments negotiated during its financial rescue last year. Ogilvy & Mather handles the Disneyland Paris ad account.