991007 McDonalds Spain Sees $386 Million 1999 SalesOctober 2, 1999Madrid - U.S. fast-food chain McDonald's expects its turnover in Spain to hit 60 billion pesetas ($386.5 million) in 1999, up from 47 billion pesetas in 1998, the chairman of McDonald's Spanish subsidiary said on Friday. McDonald's Espana will open 200 new restaurants in Spain between 2000 and 2002, creating 10,000 to 20,000 new jobs, Philippe Walch told a news conference. McDonald's already has 205 restaurants in Spain, of which 20% are fully owned and 80% are franchises. The company's investment in 2000-2002 for Spain will be around 55 billion pesetas, versus 11 billion pesetas in 1998, Walch said. "Spain is a very important country for the future of McDonalds because it is a growing economy and, therefore, has the potential to give us the same profits as the UK, Germany and France, our biggest markets in Europe," said McDonalds International Chief Executive Jim Cantalupo. Worldwide, McDonald's sees 10 to 15% increase in earnings per share in 1999 and expects it will be a record year in terms of profits, Cantalupo said. McDonalds plans to open 1,750 outlets in 1999 and the same amount for next year, most of them in Europe, he added. But Latin America will have the biggest growth and Japan, as a single country, will open the highest number of restaurants. McDonalds' sales in Europe account for 65% of fast- food market in Europe, Cantalupo said. The company has 25,000 restaurants over the world, and says it feeds 10% of the global population.
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