McDonald’s Corporation reveals mixed results for first quarter

By Georgi Gyton

- Last updated on GMT

Related tags: Revenue

Revenue was up, but operating and net income down in McDonald’s Corporation’s trading update for the first quarter to 31 March 2014.

Revenue increased by 1% to $6.7bn (non-constant currencies) while operating income fell 1% to $1.936bn, and net income dropped 5% to $1.2bn on the same currency basis.

Global comparable sales increased 0.5%, while sales in the US fell 1.7% in the first quarter. However, Europe saw sales increase 1.4%, and operating income was up 6%, which the group put down to positive sales in the UK, France and Russia.

Sales in the APMEA region (Asia Pacific/Middle East/Africa) increased 0.8%, although operating income fell 10%. Like-for-like sales were solid in China. However, Japan and, to a lesser extent, Australia negatively impacted profits.

Don Thompson, president and chief executive of McDonald’s, said: "In the near term, we are prioritising our efforts around those elements of the restaurant experience that are most impactful – offering the best food and beverage options and delivering outstanding service.

"For the long term, we are focused on more effectively leveraging consumer insights to guide our global growth priorities of optimising our menu, modernising the customer experience and broadening accessibility to brand McDonald’s."

The Corporation added that, moving forwards, it was focused on stabilising key markets, including the US, Germany, Australia and Japan.

Related topics: Meat

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