McDonald’s profits fall by 71%

Fast food giant McDonald’s saw profits at its 770 company-owned British restaurants fall by 71% to £23.6m (€34.7m) in 2003.

The group said the fall was “entirely due” to a restructuring of its financial set-up but added that it had experienced a “challenging couple of years”.

Profits at the British parent company were the same as last year at £118m (€176m) and in line with expectations, McDonald’s said.