Join        Login             Stock Quote

McDonald's Japan reports highest group net profit since listing

Tuesday, February 9, 2010 7:19 AM

TOKYO, Feb. 9, 2010 (Kyodo News International) -- McDonald's Holdings Co. (Japan) said Tuesday its group net profit in 2009 rose 3.4 percent from the previous year to 12.81 billion yen, the highest since its listing on the Jasdaq Securities Exchange in 2001.

While consolidated sales declined 10.8 percent to 362.31 billion yen, the hamburger restaurant chain boosted sales on a same-store basis for the sixth consecutive year.

But sales at all McDonald's restaurants (NYSE:MCD) in Japan, including franchise stores, grew 2.6 percent from a year earlier to a record high of 531.92 billion yen, up for the fourth straight year.

Its dividend payment for 2009 was left unchanged from 30 yen per share a year earlier.

In 2010, the company plans to shut down 433 unprofitable restaurants out of around 3,700 McDonald's stores in Japan. At the same time, it intends to open 90 new restaurants and refurbish 200 stores.

McDonald's Holdings is expecting group net profit this year to plunge 54.7 percent from 2009 to 5.8 billion yen due to special losses, including around 12 billion yen in store shutdown costs. Consolidated sales are projected to decline 13.6 percent to 313 billion yen.

(Source: iStockAnalyst )


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.