Fast-food chain McDonald’s says it had higher-than-expected profits in the second quarter, despite having to pay more for ingredients. That was in part thanks to stronger sales outside the United States.
However even within the US, the burger maker benefited from the economic downturn as cash-strapped customers abandoned sit-down restaurants for its low-priced menu items. The weaker dollar also helped.
Sales rose 7.4% in Europe, which is now the company’s biggest source of revenue. Sales were up 8.8% in the Asia/Pacific region, the Middle East and Africa.The United States posted comparatively modest growth of 3.4%.
McDonald’s said profit in the quarter included a gain from the sale of its minority interest in the Pret A Manger sandwich shops.