Burger empire sees no end to expansion
Will it ever stop growing? McDonald's, the largest restaurant company in the world, sold the equivalent of four billion Big Mac hamburgers last year, its latest figures reveal. It opened 1,790 restaurants in 1999 and plans to open between 1,800 and 1,900 this year.
It has 26,806 restaurants in 118 countries, including 884 in the UK, 74 of which opened last year.
In 1999 the company's sales increased by 7% to £8.1b, from £7.6b the previous year. Its pre-tax profits jumped up by 25% to £1.7b, from £1.4b in 1998.
McDonald's said its annual growth would have been stronger had it not been for inflation in Latin America and economic difficulties in Japan.
The chain is cutting back its expansion plans for Japan and will open 350 restaurants there this year instead of 400.
Sales in Taiwan were hit by the country's earthquake in September and economic troubles in Russia also accounted for some of the shortfall in growth.
But booming sales in the USA, Canada and Europe offset the troubled performances elsewhere. European sales were particularly strong in France, Germany, Spain and the UK.
Chairman and chief executive officer Jack Greenberg said: "We are on track with our expansion plans and we look forward to another outstanding year in 2000."
Jim Cantalupo, vice-chairman and president, said: "As various economies improve and as we continue to focus on value as our foundation, we have enormous opportunity to build our already substantial presence, profits and returns."
by Louise Bozec
