Ukrproduct Annual Revenue Up
The company posted a gross profit of Â£7.67m for the full year of 2010, compared to Â£6.93m for the same period in 2009. Profit from operations was Â£1.57m, compared to Â£1.77m for the same period in 2009.
Profit before taxation was Â£1.2m full year of 2010, compared to Â£1.1m for the same period in 2009. Profit for the year was Â£1.09m, compared to Â£1.04m for the same period in 2009.
The groupâ€™s administrative, selling and distribution expenses increased by 8.1 percent to GBP5.6 m(2009: GBP5.2m) in line with the inflation but the proportion of these expenses to total expenses remained constant at the level of six percent compared to the prior year.
Group EBITDA declined by 17 percent year on year in 2010. Depreciation and amortization expenses declined by 24.1 percent year on year from GBP1.4m in 2009 to GBP1.1m in 2010 following a change of depreciation method for some items of plant and equipment. Profit after tax increased by 5.09 percent year on year in 2010.
The groupâ€™s basic earnings per share (EPS) and the diluted earnings per share increased eight percent year on year from 2.5 pence in 2009 to 2.7 pence in 2010.
Net cash generated by the operating activity totalled GBP 465 k in 2010 (GBP2.2m). Net cash used in investing activities totalled GBP0.72m in 2010 (GBP0.1m). During the year, Ukrproduct invested in maintaining its production capacities and purchase of property, plant and equipment.
Net cash used in financing activities amounted to GBP0.79m in 2010 compared to GBP2.35m used in 2009.
Will the firm further improve revenue in 2011?
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