Prochiz Cheese Issuers Distribute IDR 112.5 Billion Dividend

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Mulia Boga Raya Tbk (KEJU) plans to distribute cash dividends of around 95.9 percent of the profit for the 2022 financial year or IDR 117 billion.

KEJU President Director Paulus Tedjosutikno said that each shareholder will get a total dividend of IDR 75 per share or IDR 112.5 billion based on the results of the 2023 Annual General Meeting of Shareholders (AGMS).

He said last year the company managed to maintain business fundamentals amidst challenging operational conditions, especially in the face of relatively high increase in raw material costs compared to previous years, especially for dairy products.

The Cheddar Cheese producer with the main brand Prochiz will distribute dividends in cash to all shareholders registered in the Company's Register of Shareholders as of May 12, 2023.

In addition, the company also sees changes in consumer behavior during the recovery period of the current pandemic, where people seem to prefer to spend time eating outside rather than cooking at home.

"However, thanks to the hard work and support of the right strategy, the company is still able to create good performance on several plans and strategies that have been formulated and agreed upon. In 2022, the company managed to record a relatively stable sales figure of IDR 1.044 trillion, growing 0.20 percent from the previous year which was valued at IDR 1.04 trillion," Paulus quoted Antara as saying.

The most sales contribution in 2022 comes from block cheese products around 80.56 percent of total sales, and from the sheet cheese category contributed 16.5 percent of total sales in 2022.

Meanwhile, compared to 2021 sales, block cheese sales decreased 4.5 percent year on year (yoy), while sheet cheese sales rose by 2.9 percent yoy compared to 2021.

From the geographic segment, the majority of the company's sales in the domestic area still dominate, which is 91.5 percent, while foreign sales are 8.5 percent.

Throughout 2022, KEJU posted a net profit for the current year of IDR 117.37 billion, or a decrease of 18.89 percent yoy compared to the previous year of IDR 144.70 billion.

The company recorded total assets of IDR 860.10 billion as of December 31, 2022, or an increase of 12 percent compared to 2021.

Throughout 2022, KEJU has consistently developed new products, including Prochiz Quickmelt Slice 5, Prochiz Cheddar Royale, Prochiz Mayo Sachet 18 gr, Prochiz Mayo Pedas 15 gr, Prochiz Mayo 250 ml, Prochiz Gold 30 gr, Prochiz Mozzarella and Prochiz Cheese Sauce 18 gr.