McDonald's profits rise 15% on higher global sales

Fast food King McDonald's has seen its quarterly profits is 15% on higher sales from the last year sale across all its global regions.

Its net profit for the three months to 30 June accumulated $1.41bn (£866m), compared with $1.23bn a year earlier. Rise in profit is $180m from last year profit.

Revenue growth was led by Europe, where McDonald's same-store sales increased by 5.9%. They rose by 4.5% in US, and by 5.2% for the rest of the world.

Group-wide revenues accumulated $6.91bn, up 16% from $5.95bn a year ago.

McDonald's chief executive Jim Skinner said the latest results showed the company's resilience in the face of "the continuing challenges of our economic environment". He is much satisfied with the performance of the company.

The company said the cost of most of its ingredients in the US and Europe was continuing to rise between 4% and 4.5% on an annual basis as food price inflation remains high