The article provides results of assessment of effectiveness of activity of the food industry companies. It presents the assessment logic in the financial projection and covers the following substantial aspects: structure of the capital, profitability and business activity. The structure of the capital of food companies is assessed from the point of view of financial risk, which is identified with a degree of dependence on external investors and lenders and level of securing reserves with own

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... culating assets. The article makes a conclusion about a high level of the financial risk, which was typical for the food industry companies during 2007 – 2011 and caused by reduction of the share of long-term sources of financing in the structure of the capital. A positive characteristic of the structure of the capital of the studied companies is a relatively low value of the weighed average cost of their capital. However, despite this fact, the functioning capital of food companies ensured assets profitability less than the cost of capital, which resulted in destruction of the fundamental cost of the food industry companies during the studied period. The main factors that had negative influence upon the change of the level of economic profitability of food companies: reduction of profitability of products sales, deterioration of liquidity and slowing down of turnover of receivables. Analysis of business activity allowed making a conclusion about the extensive character of development of the technological base of food companies and reduction of their innovation activity.В научной статье представлены результаты оценки эффективности деятельности предприятий пищевой промышленности. Логика оценки представлена в финансовой проекции и охватывает следующие содержательные аспекты: структуру капитала, прибыльность и деловую активность. Структура капитала пищевых предприятий оценена с позиций финансового риска, который определен степенью зависимости от внешних инвесторов и кредиторов и уровнем обеспеченности запасов собственными [...]