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Fri 5th Sep 2014 - McDonald's UK sees profits leap 27% as turnover hits £1.5bn
McDonald's UK sees profits leap 27% as turnover hits £1.5bn: McDonald's UK saw post-tax profit for 2013 leap 27% to £194.93m, as turnover for the year to 31 December rose by £180m, or 13.7%, to £1.5bn. Pre-tax profit, after payment of £73m in franchise fees, up 10.6% on 2012, rose 21% to £244.89m. The company's tax bill was £50m, up 2% on 2012. Administrative expenses fell 6.2% year-on-year to £70.98m. The biggest leap in turnover was in licensee income, from franchised restaurants, including rental income, service fees and licence fees, which was up 60% to £438.85m. Income from the company's owned restaurants was up 1.5% to £1.06bn. In its financial statement, McDonald's UK said the company had "continued to deliver sound results in a difficult business climate" in 2013, with periods of high food cost inflation. Gross profit was up to £377.8m from £339.3m in 2012, and operating profit up to £233.8m from £197.5m. The improvements were due to higher sales and margins within company-owned restaurants and positive sales growth from franchisee restaurants, it said. Directors' remuneration, before pension contributions, fell 11.8% on 2012 to £1.5m, with the highest paid director's remuneration falling to £951,000 from £1.05m. The highest paid director also received £454,000 on the exercise of share options during the year, up from £391,000 in 2012. Total staff costs, including social security and pension costs, rose just 0.4% on the year to £320m. The average number of employees rose by 663 to 37,796.


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