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McDonald's Food

McDonald's beginning to reassert its dominance in the fast food market following upturn in profits

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By Tony Connelly, Sports Marketing Reporter

April 23, 2016 | 2 min read

McDonald's efforts to re-establish its dominance over a growing number of healthier fast food competitors appears to be paying off after the popularity of its all-day breakfast and cut-price offers in the US helped boost profits by 35 per cent.

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The company reported a net profit of $1.1bn (£763m), a marked improvement on last year's $811.5m.

The profit follows on from better than expected US sales of 5.4 per cent and a 5.2 per cent jump in established markets including the UK and Australia. Overall sales increased by 6.2 per cent globally.

Simplified restaurant options and opening up its breakfast beyond 10:30am have significantly contributed to fast food giants performance.

Chief executive Steve Easterbrook said:"I'm pleased to report that our turnaround is taking hold. For the quarter, we generated higher sales, revenues and operating income in constant currencies across all business segments."

He added that the company would continue with its turnaround plan for at least another two quarters before moving to a longer-term strategy.

As well as menu options changes McDonald's has also been working to bring customers back into its restaurants with a number of in-store incentives such as the installation of Samsung galaxy tablets across its UK outlets.

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