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Last Updated: Tuesday, 24 July 2007, 14:50 GMT 15:50 UK
Sale costs bring McDonald's loss
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McDonald's saw its last quarterly loss in 2002
McDonald's has seen its first quarterly loss in almost five years because of hefty costs linked to the sale of some of its Latin American business.

The fast-food chain took an impairment charge of $1.6bn (775m) as part of its sale of 1,600 restaurants in 18 Latin American and Caribbean countries.

The move came as the chain focused on more profitable parts of the business.

It saw losses of $711.7m in the three months to the end of June but a $869.9m profit when the cost was stripped out.

Brand enhancing

McDonald's said strong breakfast sales had helped turnover climb 12% to $6bn in the quarter.

"We continue to increase our relevance to busy consumers by delivering choice, variety and convenience that our customers have come to expect," said chief executive Jim Skinner.

"Our business around the world is strong, and the energy, alignment and commitment behind enhancing the McDonald's brand have never been better."

The firm has only ever seen one other quarterly loss - witnessed during a long slump in sales in late 2002.

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