This is the case for McDonald’s who have seen profits fall by 68 per cent but at the same time the Australia market has continued to deliver.
McDonald’s saw worldwide net profit plummet by over US$1bn, or 68 per cent, during the second half of FY20 as a result of lockdown restrictions limiting its sales.
However, locally the quick-service chain performed well, with comparable sales in Australia growing during the quarter due to strong drive-thru performance.
Globally, net income landed at $483.8M, down from $1.51bn during the same period of FY19, and comparable sales fell 23.9 per cent – though improved throughout the quarter.
McDonald’s Chief Executive Chris Kempczinski said he is proud of how the restaurant chain has managed to remain a safe environment for both customers and workers through the pandemic, and that he expects the business will bounce back.
“Throughout our history, McDonald’s has demonstrated the strategic foresight necessary to position our business for the future,” Kempczinski said. “We’re confident that the strong foundation we’ve built, combined with the unique advantages of our system, position us well to continue operating successfully during this pandemic and emerge even stronger.”
