McDonald’s is amongst a minority of companies which have seen both profits and growth in the past years, despite the difficult financial climate. The company recently announced that it is to open new branches and institute longer opening hours, which will create 2,500 new jobs.
The Chief executive of McDonald's UK, Jill McDonald, has promised that at least half of the new jobs will go to young people between the ages of 16 and 24. This group has been amongst those worst affected by the lack of job opportunities and there has been wide concern that the lack of professional engagement will have long-term damaging effects on youths’ wellbeing.
McDonald’s financial progress has, to a large part, been because of its ability to adapt its prices to fit money-saving customers. For instance, they have had particularly low-cost-meal deals and lowered the price on take-away drinks, such as coffee.
Nick Clegg, the Deputy Prime Minister, welcomed the company’s progress and said that their investment in young people helped those “with little or no experience in the world of work" to develop their skills and confidence. For a significant number of these young people, their jobs at McDonald's are the first step in their careers.”
Market professionals stress that McDonald’s has delivered profits to its investors. Richard Hunter, head of equities at Hargreaves Lansdown, said that McDonald’s had seen a more successful period than its competitors. "McDonald's remains a favourite of customers and investors alike, with the general market view of the shares as a strong buy looking unlikely to change in the foreseeable future."
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