McDonald’s profit up in Q4
McDonald’s has announced fourth quarter and full year results for fiscal 2009, ended 31 December. For the fourth quarter, the company reported revenue of USD5.97 billion, a 7% increase on last year and net income of USD1.21 billion, compared to USD985 million in the prior year period. The company said global comparable sales increased 2.3%, including a 0.1% rise in the US and increases of 4.8%, 1.5% and 6.8% for Europe, Asia Pacific/Middle East/Africa (APMEA) and ‘Other Countries’, respectively. McDonald's US same-store sales declined in October and November, under pressure from high unemployment and discounting by its competitors, but December improved with 1% growth. The chain has introduced a USD1 breakfast menu to help boost traffic. Strong results in Europe was fuelled by its UK, France and Russia markets, while solid results in Australia, expansion in China and operating efficiencies and lower commodity costs helped its APMEA operating region.
For the full year, comparable sales increased 3.8%, including a 2.6% rise in the US and increases of 5.2%, 3.4% and 5.5%, for Europe, APMEA and ‘Other Countries’, respectively. CEO Jim Skinner said: “As we begin 2010, McDonald’s January global comparable sales trend remains positive”. For the year, the company generated revenue of USD22.7 billion, falling from USD23.5 billion last year, while net income increased to USD4.55 billion, from USD4.31 billion last year.
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