McDonald's presence in Greece growing; profitability up

Wednesday, 23 October 2019 14:07
UPD:14:07
REUTERS/MIKE BLAKE
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 By S. Emmanuil

semm@naftemporiki.gr

Premier Capital Hellas, McDonald's licensee for Greece, appears ready to continue its expansion in the country, on the back of significant capital reserves and liquidity that it has reported.

The development comes a significant downsizing of McDonalds's outlets in the country in the previous decade, with the chain operating 24 outlets today.

A current investment outlay is budgeted at 19 million euros, with the inclusion of 11 new fast food outlets and modernization of current eateries, a plan that could raise the budget to 21 million euros and the creation of 400 new jobs.

The latest edition was opened this week in the southeast Athens district of Vari, a new outlet that cost 1.2 million euros.

Premier Capital Hellas first operated in Greece in 2011, while in 2018 reporting an increase in sales of 14 percent and an increase in net profitability of 13 percent. Turnover for the same year reached 33.18 million, up from 29.13 million euros from the previous year.

 

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