McDonald’s posts lowest quarterly profit in 13 years

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McDonald’s posts its lowest quarterly profit in 13 years as lockdown saw restaurants close

By Daily Mail City & Finance Reporter

Published: | Updated:

McDonald’s posted its lowest quarterly profit in 13 years as lockdown forced it to shut thousands of restaurants – but has seen sales rebound since opening up again. 

The fast food chain reported a drop in global sales of 30 per cent to £2.9billion in the three months to the end of June, pushing net income down by 68 per cent to £373m. 

Biting back: Around 96 per cent of of McDonald’s restaurants are now open for business

It said sales were heavily affected by closures ‘particularly in the UK and France’. But they are rebounding in all markets, and have even gone higher than last year in Australia thanks to demand for drive-through food. Around 96 per cent of its restaurants are now open. 

The company benefited from online sales during the lockdown. In the UK customers can order from delivery partners, and even before the pandemic a tenth of orders were placed on the apps. 

Last week McDonald’s opened 700 UK restaurants, which were previously takeaway-only, as sit-in diners. Customers are served their food by table service only after placing their order on the McDonald’s app or at tills and kiosks. 

The company employs 135,000 staff in the UK and Ireland. 

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