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McDonalds profits up 6pc, expects sales to stay positive

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McDonalds profits up 6pc, expects sales to stay positive

22.10.2009
Fast-food giant McDonalds has reported a 6pc rise in third-quarter earnings to US$1.26bn, up from the US$1.19bn earned a year previous, which the company said was fuelled by positive comparable sales in every area of the world.

Earnings per share saw growth of 10pc to US$1.15 during the quarter when compared to the US$1.05 earned during the same period a year previous.

Global comparable sales increased by 3.8pc, McDonalds said, with Europe top of pile with a rise in sales of 5.8pc. The US also saw sales rise, up 2.5pc, while the Asia/Pacific, Middle East and Africa region saw an increase in sales of 2.2pc.

However, revenue at the fast-food company fell 4pc to US$6bn during the quarter.

“We begin the fourth quarter from a position of strength, and I am confident that our focus on the customer and commitment to financial discipline will continue to deliver long-term profitable growth for our system and our shareholders,” said McDonald's Chief Executive Officer, Jim Skinner.

“For October, despite a declining informal eating out market around the world, we expect consolidated comparable sales to remain positive.”

 

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