Sierad opens new outlet

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)