Euro Disney reports that sales edge up

(PARIS) - Euro Disney, which operates a giant Disney resort near the French capital, said on Tuesday its first-quarter sales rose 1.1 percent despite difficult conditions as it attracted more visitors.

"Increased visitor numbers and increased visitor spend are encouraging, especially in the current circumstances," Euro Disney president Philippe Gas said of the company's first quarter in the three months to December.

Gas said that the flow of its main customers -- French, British and Spanish visitors -- held up well while there were positive numbers from emerging markets such as China, Russia and Brazil.

Euro Disney's tourist operations, the bulk of its business, showed a gain of 4.3 percent to 318.6 million euros, the company said, with property sales a minor 300,000 euros, down from 9.7 million euros in the last three months of 2010.

Gas said Disneyland Paris, Europe's biggest single tourist draw, was planning to play up its 20th anniversary this year so as to attract more business.

Euro Disney shares fell 4.80 percent in late morning trading after the announcement.