McDon­ald’s burger bil­lions

Weekend Argus (Saturday Edition) - - BUSINESS -

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

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.