McDonald’s burger billions
CHICAGO: More hungry diners gobbling its cheap eats helped McDonald’s Corp’s sales and profit grow in its fourth quarter, the company said yesterday in an earnings report showing it was weathering the downturn better than many of its fast-food competitors.
But sales growth at its US restaurants continued to slow and net revenue fell for the year.
For the three months that ended December 31, the world’s largest burger chain earned $1.22 billion (R9.3bn). That’s 23 percent more than a year earlier when it ear ned $985.3 million.
Because of its size and its popular dollar menu, McDonald’s was an early beneficiary of the recession as diners traded down from pricier restaurants. – Sapa-AP