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Rising Revenue for McDonald's Restaurants in Hungary, Up 37% to HUF 51.4 Billion Last Year

  • 30 May 2022 6:14 PM
  • Budapest Business Journal
Rising Revenue for McDonald's Restaurants in Hungary, Up 37% to HUF 51.4 Billion Last Year
Revenue of Progress Étteremhálózat, which runs McDonald's fast-food restaurants in Hungary, rose 37% to HUF 51.4 billion last year, according to a report posted on the website of the Budapest Stock Exchange.

Material costs climbed 36% to HUF 30.8 bln. Payroll costs increased 25% to HUF 11.3 bln.

The company's after-tax profit jumped 84% to HUF 6.8 bln. There were 97 McDonald's restaurants in Hungary at the end of 2021, including 45 operating as franchises.

There were 49 restaurants in the capital.

Progress Étteremhálózat posted the report because its corporate bonds are listed on the bourse's Xbond platform.

The company raised close to HUF 38 bln with a bond issued under the Bond Funding for Growth Scheme of the National Bank of Hungary in 2020.

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Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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