McDonald's said that its recent emphasis on the healthier aspects of its menu were having a positive effect, as it reported a profit of $126m (£70m) in the last quarter of 2003, against a $344m loss in the same period a year earlier. The company said that sales during the fourth quarter were up more than 16%, led by a strong rebound in the United States. The company said that it hoped the improvements would spread to Europe. The news came as the company announced the retirement of Fred Turner, chief executive from 1973 to 1990 and chairman from 1977 to 1990. T Turner had retained the title of senior chairman and a seat on the company's board and was the last board link back to its original leadership. In the company's original manual in 1958, Turner defined how big a typical chip should be and how long a burger should sit on a griddle.