McDonald’s profits jump despite bad weather



McDonalds

McDonalds

Fast food restaurant giant McDonalds today reported profit increases, despite the terrible weather that hit Christmas sales.

The restaurant chain, which has more restaurants than any other chain in the world, reported that net profit had risen slightly to £770million, from £750million last year. Revenue was also up 4% to $6.2billion.

The home of the famous Golden Arches saw sales increase by 4.4% in the US and 3.4% in Europe as they had a strong finish to the year.

With food costs likely to fall this year, and stronger sales expected, McDonalds share price fell by a percent. Chief Executive Jim Skinner was positive however.

He said, “During 2010 we generated strong sales and delivered profitable market share growth, along with higher global revenues and earnings per share,”

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