Increasing Sales at McDonald's in Hungary

The turnover of Progress Étteremhálózat [‘Restaurant Network’] Ltd., which operates McDonald's restaurants in Hungary, was HUF 32.25 billion in the first six months of the year, a 38.3% year-on-year increase compared to the first half of last year, the company announced on the Budapest Stock Exchange (BSE) website.

According to the half-year balance sheet report, profit after tax was HUF 2.242 billion.

The increase in sales was helped by a low base and growing franchise revenues from new restaurants. However, operating profit was negatively impacted by higher global food prices and higher-than-planned labor costs, they said.

The statement stressed that the company is constantly monitoring the changing economic environment and "will take the necessary action without delay."

The company also announced that between January and June it added six new McDonald's outlets in Zalaegerszeg, Pécs, Velence, Eger, Kecskemét and Szombathely, bringing the total number of McDonald's restaurants in Hungary to 103.

According to the half-yearly management report published on BSE's website, the modernization of four fifths of all restaurants will be completed by the end of the year and more drive-in restaurants will be opened.