According to the published quarterly report, the revenue of Spartak Shoe Factory OJSC decreased by 37,9%: from 185,1 million rubles in 6 months of 2013 to 114,9 million rubles in 6 months of 2014.
At the same time, management adequately optimized the main costs: the gross profit of the enterprise decreased only by 2,5 million rubles to 43,6 million rubles in the first half of the 2014 year.
Selling expenses were cut by RUB 4,7 million to RUB 9,8 million, and administrative expenses - by RUB 13,6 million to RUB 17,3 million for the first half of 2014.
It is curious that thanks to the successfully implemented cost-cutting policy, the factory’s operating profit increased 22 (!) Times: from 0,7 million rubles in January-June of 2013 years to 16,5 million rubles in January-June of 2014 years.
Shoe Factory Spartak received a symbolic 279 thousand rubles of net profit for 6 months of 2014, against a net loss of 70,4 million rubles for 6 months of 2014.