Hong Kong Disneyland's Q1 profit hits record

HONG KONG, June 25 (Xinhua) -- Hong Kong Disneyland Resort on Tuesday reported improved earnings in the fiscal year of 2023, while its revenue and profit hit new records in the first quarter (Q1) of this year.

Revenue in the fiscal 2023 running from October 2022 to the end of September 2023 climbed 156 percent year on year to 5.7 billion Hong Kong dollars (about 730 million U.S. dollars), while total loss narrowed to 356 million Hong Kong dollars, according to the resort's earnings report.

In the calendar year 2023 alone, the resort achieved profitability buoyed by the opening of the world's first "Frozen"-themed land in November, said Michael Moriarty, managing director of Hong Kong Disneyland Resort.

"The strong momentum continues. The first quarter of 2024 was our most successful quarter ever, achieving record levels of revenue and net income," Moriarty said.

The resort will celebrate its 20th anniversary in 2025. It will keep investing in facilities and signature offerings tailored to the anticipation of visitors, according to Moriarty.