McDonald's Sees Profits Fall
Published on Jan 18 2015 1:18 PM in Restaurant
McDondald's profits have fallen by 15 per cent in the past year according to it's latest figures.
Restaurant sales have also dropped; global revenue was $6.5 billion last year, down from $7.1 billion the previous year. This represents a fall of 7 per cent.
Net income fell from $5.5 billion in 2013 to $4.7 billion last year, a fall of 15 per cent.
Despite these figures, the decreases were smaller than expected.
In particular, McDonald's sales fell sharply in Ukraine and Russia as a result of the ongoing political issues. The company also said that stores in France and Germany performed weakly.
Don Thompson, McDondald's president and CEO said, "results declined as unforeseen events and weak operating performance pressured results in each of our geographic segments".
McDonald's also had to deal with a food scare in China and strong competition from other fast-food restaurants in the US.