Ukrproduct Group said it targets a return to profitability as the market place continues to work towards stabilisation.
"Our markets will however remain competitive," it added in a statement.
Ukrproduct's strategy is to target segments with differentiated products and services. In particular, pursuit of growth opportunities in beverages and export and improving the cost and service efficiency of the supply chain.
Overhead reduction has included the remuneration of directors. Underpinning this all is the need to continue to create positive cash flows.
During H1, Ukrproduct continued to experience the consequences of the storm in the Ukrainian economy in recent years.
A devalued currency, a geographically contracted market place and consumers now pressured further by inflation provided a challenging business environment.
The Group's response has been to adjust its focus to relevant products, sales channels and customers providing acceptable margins and ability to pay on time. Working capital has been released and costs contained via improved productivity.
At 12:34pm: (LON:UKR) Ukrproduct Group Ltd share price was -0.37p at 2.51p