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ublicly listed food manufacturer PT Mayora Indah Tbk  announced that it  managed to increase its netprofits by up to 53.97 percent last year.

'We have benefited from the stable price of raw materials and fair bankinterest rates,' PT Mayora Indah Tbk president director Andre Suhendra told reporters after a shareholders meeting (RUPS) at Imperial Aryaduta hotel in Karawaci, Tangerang, on Wednesday.

He said that the company had also booked increasing business profits of up to Rp 1.16 trillion, an  Rp 160 billionincrease from the targeted Rp 1 trillion.

'We saw net profits rise Rp 98 billion (53.97 percent) from Rp 646 billion in 2011 to Rp 744.42 billion last year,' he said.

Therefore, he went on,  it was decided in the shareholders meeting to distribute 77 percent of the net profits as dividends.

"Looking at our rapid growth today and potential consumers from year-to -year, we are optimistic that the company's business is still growing,' he said.(dic)