Hong Kong Disneyland 2017 Net Loss Widens to HK$354 Million, Despite Higher Revenue

   By Chester Yung 
 
 

HONG KONG--Hong Kong's Disney theme park on Tuesday posted a net loss of 345 million Hong Kong dollars (US$44.1 million) for the last fiscal year, more than double its net loss of HK$171 million a year earlier, despite higher attendance figures and revenue.

The wider net loss for the year ended September 2017 was due to "depreciation of new projects, expansion and operating expenditure," the park said.

Hong Kong Disneyland, in which the city's government has a 53% stake, recorded a 3% year-over-year rise in attendance to 6.2 million people for fiscal 2017. Its revenue rose 8% on-year to HK$5.1 billion. Walt Disney Co. (DIS) owns the remaining stake in the park.

Hong Kong Disneyland -- the smallest of Disney's theme parks -- has been suffering from weak financial results in recent years. In a bid to revive the Hong Kong park, Walt Disney in late 2016 unveiled expansion plans.

Write to Chester Yung at [e-mail]

(END) Dow Jones Newswires

February 20, 2018 03:43 ET (08:43 GMT)

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