Hong Kong Disneyland Posts First Profit Since 2005

Category: World / Feb 18, 2013 1:08PM EDT
Hong Kong’s Disneyland parade had all the more reason for celebration on Monday (February 18) when the seven-year-old theme park announced its first ever net profit. The world's smallest Disneyland, opened in September 2005, posted its first net profit at HK$109 million (14.1 million USD) in the 2012 fiscal year. It also saw a record attendance of 6.7 million people, up 13 percent from the previous year. Hong Kong Disneyland's managing director, Andrew Kam, said the resort had turned a corner after much scrutiny. "Now, obviously, we are all very excited about the milestone that we have achieved. This is a very significant milestone. We have seen the business has turned a corner. This is very, very encouraging and exciting among our leaders and our shareholders," said Kam. Hong Kong Disneyland will soon lose its status as China's only Disneyland as Shanghai is expected to open its own resort about three times the size at the end of 2015.