Department store group PT Ramayana Lestari Sentosa has announced estimates of a 21 per cent increase in net sales for 2001 to 2.8 trillion rupees ($311.12m) from 2.3 trillion last year, according to news agency Asia Pulse.

The company posted a profit of 260bn rupees last year and is hoping to increase that figure by a further 15 per cent to 300 billion rupees this year.

The company has also announced plans to open a further 10 stores throughout Jakarta, expanding on its current base of 72 outlets.