x

Abu Dhabi, UAEWednesday 22 August 2018

McDonald's beefs up income by 7 per cent

Comparable sales in the US rose 2.6 per cent from the year-ago level, part of a global increase of 4 per cent

McDonald's logo upside down in honour of International Women's Day in March. The firm's sales have grown.
McDonald's logo upside down in honour of International Women's Day in March. The firm's sales have grown.

McDonald's reported higher second-quarter profits Thursday on increased comparable sales in the US and other key markets.

Net income came in at $1.5 billion, up 7.3 per cent from the year-ago level.

Revenues declined 11.5 per cent to $5.4bn, the result of having sold some company-owned restaurants to franchisees.

"We're seeing good performance across our business as our customers tell us that they value and appreciate the moves we're making to elevate the McDonald's experience," said chief executive Steve Easterbrook.

_______________

Read more:

On a mission to become the McDonald's of manaeesh

McDonald's to cut back corporate jobs

_______________

Since becoming chief executive in 2015, Mr Easterbrook has focused on simplifying McDonald's offering and improving service at its US restaurants.

Comparable sales in the US rose 2.6 per cent from the year-ago level, part of a global increase of 4 per cent.

Other countries with strong growth included Britain, France and Italy, but said its performance was weak in South Korea.

Shares dipped 0.4 per cent to $158.31 in pre-market trading.

RELATED ARTICLES
Recommended