Accounts receiveable turnover

ART= Net sales/ Accounts receiveable

ART(2008)=946314/187304=6,30 times

ART(2009)= 948938/382483=8,39 times

ART(2010)=1187151/260076=8,90 times

Inventory Turnover Ratio: This ratio tells how often a business' inventory turns over during the course of the year. Because inventories are the least liquid form of asset, a high inventory turnover ratio is generally positive. On the other hand, an unusually high ratio compared to the average for your industry could mean a business is losing sales because of inadequate stock on hand.

Inventory Turnover Ratio= Cost of goods sold/ Average value of inventory

ITR(2008)= 57 235 364/ 7 675 648= 7,45

ITR(2009)= 75 097 646/1 849 462=40,60

ITR(2010)= 86 441 934/ 2 491 983=34,68

Shareholders’ equity turnover

SET= Sales/ Shareholders’ equity

SET(2008)= 1,44

SET(2009)=1,82

SET(2010)= 1,97

The analysis of profitability

Profitability of sales

POS= (Gross profit/ (Costs of sales + Operating expenses)*100%

POS(2008)= (90 067 461/(2 271 395+10 524 187)*100=703%

POS(2009)= (113 482 575/(3 168 809+21 615 466)*100=457%

POS(2010)= (111 213 691/(3 055 532+20 571 910)*100=470%

Profitability of shareholders’ equity

PSE= (Interest income/ Total shareholders’ equity)*100%

PSE(2008)= (1 641 624/101 708 527)*100=1,6%

PSE(2009)= (2 533 876/103 539 923)*100=2,44%

PSE(2010)= (6 214 131/100 271 278)*100=6,2%

Payback period

PP= Total shareholders’ equity/ Net profit

PP(2008)= 101 708 527/ 37 025 594 =2,74

PP(2009)= 103 539 923/ 39 674 883 =8,4

PP(2010)= 100 271 278/ 33 480 015 =8,9

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