McDonald's Profit Rises 12%

26.07.2010 09:56 "Agro Perspectiva" (Kyiv) — McDonald’s Corp., the world’s largest restaurant chain, posted a 12 percent gain in second- quarter profit after attracting more customers with its frappes and smoothies. Net income rose to $1.23 billion, or $1.13 a share, Oak Brook, Illinois-based McDonald’s said today in a statement. That compared with the $1.12 average of estimates compiled by Bloomberg. Sales increased 5.3 percent to $5.95 billion, bolstered by sales of frozen drinks in the three months ended in June, the hottest on record, according to U.S. government data. The restaurant chain, led by Chief Executive Officer Jim Skinner, has added smoothies and other products to lure consumers into its locations outside of regular meal times. «There’s not a ton of competition out there for McDonald’s,» Janney Montgomery Scott LLC’s Mark Kalinowski said in a telephone interview. «None of the other burger chains have the beverage platform that McDonald’s does.» McDonald’s may introduce new Angus snack wraps, hot oatmeal, and frozen lemonade in the next year, the New York- based analyst said. He recommends that investors buy the shares. McDonald’s advanced $1.29 to $71.40 on the New York Stock Exchange yesterday. Before today, the shares had climbed 14 percent this year, compared with a 1.9 percent decline in the Standard & Poor’s 500 Index. The chain’s sales at stores open more than 13 months increased 4.8 percent globally. They rose 3.7 percent in the U.S., 5.2 percent in Europe, and 4.6 percent in Asia, the Middle East and Africa.

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