McDonald's profits rise

McDonald's third quarter profits have risen nine per cent as cheaper ranges have helped to boost sales.

The US fast food giant made a net profit of $1.5bn (£942m) in the three months to 30 September, up from $1.4bn a year earlier.

Its revenues for the quarter rose 13.8 per cent to $7.2bn, while sales at stores open for more than a year were up five per cent.

McDonald's is also continuing to enjoy higher coffee and smoothie sales.

These lines are important to the company, as they provide higher profit margins than its traditional food items.