WALT Disney has posted a 30 per cent surge in quarterly profits, driven by children’s comedy film The Pacifier, starring Vin Diesel, and strong DVD sales of The Incredibles.
Net income in the second quarter totalled some £373 milllion, while sales rose nine per cent to around £4.2 billion. Increased visitor numbers at theme parks also boosted profits.
Disney’s agreement with Pixar, the animation studio behind hits such as Toy Story and Finding Nemo, is due to end with the 2006 release of the movie Cars. Talks between the pair broke down over how profits would be shared, but there have been signs that the two companies may be willing to bury the hatchet. Analysts say renegotiating a deal is key to future growth.
Shares fell slightly after the release of the latest figures, which met Wall Street hopes but failed to deliver the type of positive surprise to which investors are accustomed.
