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McDonald's profit up by 5% in Q3

RBR Staff Writer Published 22 October 2013

Fast food giant McDonald's has reported 5% increase in profits for the third quarter of fiscal 2013 as compared to the corresponding period last year.

The chain's net income for the third quarter was $1.52bn, up from $1.46bn in the prior-year quarter. Total revenues for the quarter increased 2% to $7.32bn from $7.15bn in the same quarter last year.

Sales by company-operated restaurants rose 2% from last year to $4.92bn, while revenues from franchised restaurants rose 4% to $2.40bn.

For the third quarter, the company's global comparable sales increased 0.9%.

On a segmental basis, US comparable sales for the quarter increased 0.7%, while operating income rose 5%.

McDonald's Europe comparable sales for the quarter edged up 0.2% while operating income rose 11%.

In the Asia/Pacific, Middle East and Africa or APMEA region, comparable sales declined 1.4%, primarily due to negative results in China, Japan and Australia. The negative results were partly due to the ongoing challenging environment, the company said.

Operating income for the third quarter declined 12%, and also decreased 4% in constant currencies.