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| Strong sales boost for McDonald's | Strong sales boost for McDonald's |
| (31 minutes later) | |
| McDonald's has announced slightly higher profits in the first three months of the year as people look for value meals during the recession. | McDonald's has announced slightly higher profits in the first three months of the year as people look for value meals during the recession. |
| Profits at the the US fast-food giant, the world's largest hamburger chain, rose 4% to $979.5m (£676m) from $946.1m in the same period last year. | Profits at the the US fast-food giant, the world's largest hamburger chain, rose 4% to $979.5m (£676m) from $946.1m in the same period last year. |
| The company also said that sales so far in April were strong. | The company also said that sales so far in April were strong. |
| Last month, McDonald's warned that the strong dollar and high commodity prices would squeeze first quarter revenues. | Last month, McDonald's warned that the strong dollar and high commodity prices would squeeze first quarter revenues. |
| Sales up | |
| McDonald's' sales have increased in the economic downturn, helped by its low prices and the ubiquity of its fast-food outlets. | |
| Global sales grew by 4.3%, with those in the US up by 4.7%, those in Europe increasing by 3.2% and those in Asia, the Middle East and Africa climbing by 5.5%. | |
| This improvement was despite there being one less trading day in the period compared with last year, which was a leap year, and Easter falling outside the quarter this year, the company said. | |
| But despite the rise in sales, total revenue fell by 10% from a year earlier, from $5.61bn to $5.08bn. | |
| Without the strengthening dollar, performance would have been stronger, the chain said. | |
| "Our underlying business performance remains strong... despite the economic concerns around the world. Our well-known value proposition and unparalleled convenience continue to resonate with customers," said Jim Skinner, McDonald's chief executive. | |
| "In fact, the momentum has continued with April comparable sales trending at least as strong or better than first quarter sales in every area of the world," he added. |