Sierad opens new outlet

JAKARTA (JP): PT Sierad Produce, the subsidiary of the publicly-listed PT Anwar Sierad, had expanded its fast food business to Shanghai, China, by opening a 480-seat restaurant, the company announced.

The company said in a statement here yesterday that Shanghai and its adjacent provinces, with a total population of about 200 million, held a bright prospect for its fast-food business.

But the statement did not mention about the total investment for the expansion.

The company specializes in chicken fast-food franchises, food production and integrated poultry industries.

Its net profit was Rp 17.6 billion (US$7.6 million) in 1995 with total sales reaching Rp 274 billion. Last year, the company's net profit was projected to increase by 74 percent to Rp 30 billion, while total sales were expected to rise to Rp 399 billion. (bnt)