News
McDonald’s delivers strong second-quarter results
McDonald’s Corporation today announced strong operating results for the second quarter ended 30 June 2009, driven by positive global comparable sales in every area of the world. In constant currencies, the company posted higher revenues, operating income and earnings per share compared with the prior year.
“We’re driving results by staying focused on our global business strategy – the ‘Plan to Win’,” said CEO, Jim Skinner. “In today’s economic environment, our performance speaks to the strength of our plan and McDonald’s ongoing commitment to our customers around the world.
“As consumers find themselves more cash-strapped and time-challenged, they continue to count on McDonald’s for value, convenience and variety across our menu. The ongoing appeal of McDonald’s is a testament to the dedication of our owner/operators, suppliers and employees who provide an exceptional restaurant experience for each customer, every time.”
McDonald’s US delivered solid comparable sales for the second quarter and drove operating income up 5%. The US business gained market share during the quarter with a balanced focus on classic menu favourites such as the Big Mac, beverage value offerings and the national launch of the McCafe premium coffee line-up.
McDonald’s Europe delivered strong second-quarter comparable sales led by performance in the UK, France and Russia. In constant currencies, Europe’s second-quarter operating income rose 10%. Alignment behind Europe’s key priorities of enhancing local relevance, upgrading the customer and employee experience, and building brand transparency continues to deliver results.
In Asia/Pacific, Middle East and Africa (APMEA), Australia led the segment’s second-quarter operating income increase of 34% in constant currencies. Emphasis on core menu favourites, convenience, value and breakfast, along with a sharp focus on improving operations and customer service, contributed to results.
Jim Skinner concluded: “I’m pleased with McDonald’s results and remain confident in our outlook for the year. As we begin the third quarter, we expect to report July consolidated comparable sales similar to or better than June.”
McDonald’s reported the following second-quarter highlights:
- Global comparable sales increased 4.8%, with the US up 3.5%, Europe up 6.9% and Asia/Pacific, Middle East and Africa up 4.4%.
- Consolidated operating income increased 2% (11% in constant currencies).
- Earnings per share were $0.98, including $0.09 per share of negative impact from foreign currency translation and $0.01 per share of incremental income related primarily to the sale of Redbox Automated Retail LLC and related to the developmental licence transaction in Indonesia. Second-quarter 2008 earnings of $1.04 per share included a $0.10 per share gain from the company’s sale of its minority interest in Pret A Manger.
- Approximately $1.4bn returned to shareholders through share repurchases and dividends.
- On 22 July, McDonald’s board of directors declared a quarterly cash dividend of $0.50 per share of common stock, payable on 15 September 2009 to shareholders of record at the close of business on 1 September 2009.
Source: McDonald’s
See also
Latest news
| |