USA: McDonalds announces H1 profit, income rises
Fastfood company McDonald's today (Thursday) reported rises in revenue and net income for the six months ended 30 June 2005.
Revenue for the period was $9.899bn, compared with $9.129bn in the same period a year earlier. Net income was $1.258bn, compared with $1.102bn a year ago.
Revenue for the second half was $5.096bn, compared with $4.729bn, while net income for the half was $530m, compared with $591m a year ago.
"We delivered solid operating results for the second quarter driven by positive global comparable sales and the continued strength of our US business, said CEO Jim Skinner. "US revenues increased 7% for the quarter, driven by multiple complimentary initiatives that delivered compelling value, menu variety and added convenience to our customers.
"In Europe, although we continue to manage challenges in a few of our key markets, our ongoing emphasis on striking the right balance between branded everyday affordability, premium product selections and core menu offerings generated increased customer visits for the quarter," he said. "To strengthen the segment's performance, our European leadership team is committed to initiatives that will deliver an outstanding customer experience and generate further improvements in this critical area of the world."
"In our Asia/Pacific/Middle East/Africa segment, Australia's strong quarterly results were partly offset by weak performance in China and Japan," he said. "To broaden our success across the segment, we continue to develop our value and new product initiatives in several markets, including Japan and China. We expect these initiatives to enhance our consumer appeal and drive improved results for the region."
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