First-quarter profits rise at McDonald’s

First-quarter profits at fast-food chain, McDonald’s, increased 24% as the company benefited from the weak US dollar and strong sales worldwide.

The figures exceed analysts forecasts on Wall Street , however, the US economy is suffering due to a weak property market which has taken some of the shine off the good performance.

European sales in outlets that have been trading for at least 12 months rose to a record high of 11%, while US sales rose 2.9%.

Jim Skinner, the company’s chief executive, said we delivered strong first-quarter results, driven by comparable sales and guest count increases across all geographic segments and outstanding international operating performance.

The company, which is the world’s largest restaurant chain, is in the process of developing new-look restaurants worldwide and nearly half of the UK’s 335 outlets have been refurbished over the last 18 months.

The new look restaurants comprise free wireless internet access and comfy seating, similar to that of Starbucks, the coffee chain.

In afternoon trading in New York yesterday, shares in the company were down 1.4% at $57.85.

McDonald’s restaurants operate in 120 countries around the world and serve over 50 million customers each day.

Other restaurant brands it operates include Piles Café. It also has a minority stake in Pret a Manger, the sandwich chain.

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