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Disney cruises its way to a £430m dividend as revenues and profits rise


Disney cruises its way to a £430m dividend as revenues and profits at its London-based subsidiary rise

Christian Sylt For The Mail On Sunday

American media giant Disney collected a £430million dividend last year from the UK-registered company which operates its cruise ships.

Disney has four vessels with passengers entertained by costumed cartoon characters and screenings of Disney musicals.

The cruises are operated by Disney’s London-based Magical Cruise Company subsidiary, which earns revenue from the sale of cabin tickets and from onboard sales.

Oh Mickey!: Disney characters help to entertain the cruise line passengers

Oh Mickey!: Disney characters help to entertain the cruise line passengers

Oh Mickey!: Disney characters help to entertain the cruise line passengers

Its latest accounts, for the year to September 30, 2017, show revenues rose 5.7 per cent to a record £1.1billion. Net profits hit a record high of £224.2million.

The cruise division has now made a total net profit of £667.6million since its first ship set sail in 1998. 

The £430million dividend payment approved in January 2018 followed a £155million dividend the previous year. That took the total payout returned to the parent company to £585million.

Terri Schultz, former vice president of New Vacation Operations and Disney Cruise Line Finance, said: ‘Revenue and operating income increased year over year primarily due to higher average ticket prices for sailings.’

The UK company is one division of Disney’s cruise line. Disney is still a minnow of a cruise business. Industry monitor Cruise Market Watch says it has just 2.3 per cent of the market for passengers.

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