Hero to open five more retail outlets

Hero to open five more retail outlets

JAKARTA (JP): PT Hero Supermarket, one of the country's
largest retail chains, will open five more outlets this year in
Jakarta, Bandung and Yogyakarta.

Hero's Director Anton Lukmanto told a press conference after
the company's annual shareholder's meeting that his company
opened six Hero Supermarkets in 1992 and four last year.

He said that his company's sales increased by 24 percent to Rp
561 billion (US$260.08 million) last year from Rp 453 billion in
1992.

He added that Hero's after tax profit increased as well by 25
percent to Rp 16.1 billion last year from the previous year.

According to Anton, the shareholders also approved the
management's proposal that Rp 5.9 billion, or 36 percent of the
total profits, be distributed as dividends, meaning that each
share will receive a cash payment of Rp 50.

The other Rp 10.2 billion of the profits will be retained, he
said.

Hero, which currently runs 55 supermarkets throughout the
country, will further improve its service by providing various
household products, he added.

"We are cooperating with several companies, including some
cottage chips industries and mineral water producers, to market
their products with Hero's brand wrappings," Anton said, adding
that such items usually cost five to 15 percent less than branded
products.

He also said that Hero has upgraded its fresh produce
department.

Hero's shares are currently traded on the Jakarta and Surabaya
Stock Exchanges at between Rp 5,200 and Rp 5,700. (icn)