Australia's largest manufacturer of polyurethane foam products, Joyce Corporation Ltd has surpassed its target of a 125 per cent increase in profits for 1996-97 with a 127.3 per cent rise to $4.01 million.

The result was achieved with a 15.5 per cent increase in sales to $102.03 million, allowing the directors to declare a fully franked total dividend of 8.5¢. Only 3¢ of last year's 8¢ dividend was franked.