Russian leather industry first half finances

Russia's State Statistics Committee reports that leather industry companies in Russia recorded an average sales margin of 4%, and an average return on assets of 1%, in the first half of this year. In comparison, the average first-half sales margin and return on assets in Russia were 14.6% and 3.3% respectively. Sales margin is the ratio of the net financial result (profits less losses) on sales to the cost of sold goods, products, work and services. A negative net financial result from sales indicates a negative margin. Return on assets is the ratio of the net financial result (profits less losses) and the value of assets. A negative net financial result indicates a loss.