US fast food chain McDonald's has reported a 7% fall in fourth-quarter net earnings and warned that the next three months will be difficult because of 'mad cow' fears in Europe.
McDonald's said net earnings in the final three months of 2000 came to $452m, down from $486.2 in the same period of 1999.
Earnings per share were 34 cents, compared with 35 cents in 1999 and one cent under Wall Street expectations.
McDonald's chairman Jack Greenberg said fourth quarter results in Europe, which increased 9%, were nonetheless 'tempered by the recent decline in consumer confidence in the European beef supply.'
