23 Jul 2011

Quarterly profits at McDonald's up

5:47 am on 23 July 2011

Quarterly profits at McDonald's rose 15% on higher sales across all its global regions.

Its net profit for the three months to 30 June totalled $US1.41 billion, compared with $US1.23 billion a year earlier.

Revenue growth was led by Europe, where same-store sales increased by 5.9%. They rose by 4.5% in the United States and by 5.2% for the rest of the world.

Group-wide revenues totalled $US6.91 billion, up 16% from $US5.95 billion a year ago.

The company said the cost of most of its ingredients in the US and Europe was continuing to rise between 4% - 4.5% on an annual basis as food price inflation remains high.