KYIV. July 31 (Interfax-Ukraine) – State enterprise Ukrspyrt saw UAH 96 million of net pretax profit in January-June 2015, which is almost twice up year-over-year (UAH 49 million), the company said in a report on its website.
The company said that its net profit margin was 13% compared to 6% year-over-year.
The company said that the indicators show that the efficiency of administrative and other operation business processes have increased and non-operation expenses were reduced as much as possible (UAH 21,000 in H1 2015 compared to UAH 35.5 million year-over-year).
“Despite the large fall in sales (by 30%), we managed to increase the efficiency of operation without increasing gross markup (39% in 2014 and 32% in 2015). The use of raw materials per produced unit was decreased by 22%. Operation, administrative expenses were cut, the corruption schemes during procurement and at enterprises were removed, and returns on decaliters grew by 335%,” the report said, citing acting head Roman Invaniuk.
Since early 2015, the debt burden on the enterprise was cut by UAH 182.5 million: by 99.8% for credits, by 8% with the budget and by 10% with suppliers. Overdue liabilities were paid by 85%, and new agreements were signed with postponement of payments, which supports the debt level without additional expenses.
The company said that total sum of operating expenses in H1 2015 amounted to UAH 139.4 million compared to UAH 222.7 million year-over-year.
