Business

McDonald's ups first-half estimates

McDonald’s Holdings Co. (Japan) Ltd. on Friday revised its group net and pretax profit estimates upward for the first six months of the 2004 business year to 1.12 billion yen and 2.61 billion yen, respectively.

The holding company of hamburger chain operator McDonald’s Co. (Japan) Ltd. said the figures compare with initial estimates of 151 million yen and 1.21 billion yen for the period to June 30. The initial estimates had been released Feb. 13.

The net profit projection, if realized, would mark the first increase in first-half net profit in four years. The pretax profit projection also marks a turnaround from the 537 million yen loss posted in the corresponding period of the previous business year.

McDonald’s officials attributed the revisions partly to the success of the strategy of adding new dishes like McGrand hamburgers, which feature larger beef patties.

The company also revised upward its sales projection for the six-month period to 149.66 billion yen from 149.46 billion yen.

The officials also said sales soared 10.4 percent in May from a year ago on a same-store basis.

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