Euro Disney Narrows Loss During First Half

Euro Disney has sharply narrowed its losses, the company said Friday, crediting a financial restructuring last year and increased operating margins.

The theme park outside Paris, which hopes to break even in late 1996, reported a net loss of $48.2 million for the first half of the fiscal year. Last year its net loss for the six months ending March 31 was $212 million.

Euro Disney did not publish its operating result - profit or loss from operations alone - but said theme park revenue was up 8.7 percent to the equivalent of $159.2 million.

“These results show we are on the right track,” said Euro Disney Chairman Philippe Bourguignon. “Nevertheless, it is premature to draw conclusions on the full year before the end of the summer.”