Property firm's profits up

JAKARTA (JP): Publicly-listed PT Jaya Real Property announced yesterday that its net profits last year increased by 18 percent to Rp 109 billion (US$46 million) over the previous year.

The company said in a statement that its sales rose from Rp 263 billion in 1994 to Rp 309 billion last year.

The statement said that the company will pay dividends of Rp 35 per share, totaling Rp 35.2 billion or 32 percent of the company's net profits.

It also said the company has got shareholders's endorsement to split its stocks by halving their nominal value to Rp 500. (alo)