McDonald's shares are tasty again

SHARES in McDonald's fast-food chain climbed 3 per cent in New York yesterday as the company said it expected per-share earnings growth of 10 per cent to 15 per cent a year in the next five years.

After a strong second quarter, the company said last month that the performance could not be sustained all year and the shares fell 5.6 per cent.

BT Alex.Brown expects US domestic operating profits in the second half to grow by up to 10 per cent. McDonald's is predicting another record year for international operations.

Restaurant owner and franchiser Planet Hollywood International reported a second-quarter net loss of $1.4m (pounds 860,000); last year it made a $16.3m profit in the period.