New York - McDonald's, the world's largest fast-food chain, on Wednesday reported net income of 979.5 million dollars for the first quarter, a 4 per cent rise in profits compared with same period in 2008. The company, based in the town of Oak Brook, Illinois, reported that the profits was equivalent to 87 cents per share, 6 cents up from the first quarter 2008.
Included in the figures were the positive effects of the sale of a minority interest in retail organization Redbox (reported at 4 cents per share), and the greater negative impact of currency swings at 8 cents per share.
At the same time, however, revenues saw a 10 per cent drop to 5.1 billion dollars in the first quarter from 5.6 billion in the same period in 2008.
"McDonald's business remains strong, despite the economic concerns around the world," said company Chief Executive Officer Jim Skinner. "Our well-known value proposition and unparalleled convenience continue to resonate with customers."
