Business

McDonald's profits rise on value product sales

McDonald's logo
Image caption McDonald's is continuing with a store refurbishment programme at its older outlets

McDonald's third quarter profits have risen 9%, the ninth increase in a row, as introducing cheaper food items helped to boost sales.

The US fast food giant made a net profit of $1.5bn (£942m) in the three months to 30 September, up from $1.4bn a year earlier.

Its revenues for the quarter rose 13.8% to $7.2bn, while sales at stores open for more than a year added 5%.

McDonald's is also continuing to enjoy higher coffee and smoothie sales.

These lines are important to the company, as they provide higher profit margins than its traditional food items.

Its same-store sales, which pull out the impact of new openings, rose by 4.4% in the US, 4.9% in Europe, and 3.4% across Asia, the Middle East and Africa.

McDonald's said sales were also lifted by its continuing store refurbishment programme.

Its latest quarterly results beat market expectations.

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