Mayora Indah to pay dividends

JAKARTA (JP): PT Mayora Indah, a publicly listed food processing company, will distribute dividends of Rp 100 per share to its shareholders, an executive said.

After an annual meeting of the company's shareholders yesterday, the president of the company, Halim Atmadja, reported that the company's after-tax profit increased by 65.2 percent to Rp 43.56 billion (US$19.3 million) or Rp 358 per share from Rp 26.36 billion or Rp 275 per share in 1993.

The sharp increase in profit was partly contributed to the acquisition of a 96.23 percent stake in PT Torabika Eka Semesta, and 55 percent shares in PT Sinar Pangan Timur and PT Sinar Pangan Barat, Halim said.

Mayora Indah used to hold only 45 percent shares in each of the Surabaya-based Sinar Pangan Timur and the Medan-based Sinar Pangan Barat.

Halim said Mayora Indah's sales revenues increased by 54 percent to Rp 249.96 billion last year from Rp 162.32 billion in 1993.

The company's finance director, Hermawan Lesmana, said that during the first six months of this year, the company's profit reached Rp 22 billion and its sales revenues Rp 150 billion.

Mayora Indah, which is listed on the Jakarta Stock Exchange, is 52.64 percent owned by PT Unita Branindo, 5.08 percent by PT Mayora Investama, 42.01 percent by public investors and the remainder by a number of parties with an ownership percentage below one percent.

Mayora Indah's total assets rose by 153 percent to Rp 556.35 billion as of last December from Rp 219.65 billion as of the end of 1993. (31)