Hamburger chain McDonald’s has seen quarterly profits rise 57% as the football World Cup in Germany helped lift European sales to 10-year highs.
It also benefited from selling its stake in the Chipotle Mexican Grill chain, and strong demand for breakfasts and premium coffee in the US.
Net income was $834.1m (£452m) in the second quarter from $530m a year ago.
Sales rose 9% to $5.6bn amid signs that the firm was emerging from a number of tough years, analysts said.
Tastier times
Dan Popowics, an analyst at Fifth Third Asset Management, said that McDonald’s was taking a small amount of market share from all of its competitors, and “both from quick-service peers and more expensive formats”.
“They have items on their menu that can appeal for price-conscious consumers,” he added.
In Europe, McDonald’s sales rose by 6.3% to put in their strongest performance in a decade.
“We are pleased with Europe’s improving profitability and remain intent on building upon these strong results,” said McDonald’s chief executive Jim Skinner.
No comments yet.