Disney announces rise in income

The Walt Disney Company has said net income rose 12% in the final quarter of 2011, as revenue inched higher amid company cost cutting.

Net income in the three months to December 31 rose to 1.46 billion US dollars (£917 million), or 80 cents per share (50 pence), from 1.30 billion US dollars, or 68 cents per share, in the same period a year earlier.