Return on capital employed:
In both the years the return on capital employed of BlackSea was around 10% lesser than the return on capital employed of the industry. However the return on capital employed increased in 2010. This is due to the fact that the operating profit increased and so did the total assets. The current liabilities also increased by 300 which had an increasing effect on the return on capital employed. Therefore the business was more efficient and profitable in 2010 than in 2009.
Return on Assets:
The return on assets increased in 2010. This is because the percentage increase of operating income was more than the percentage increase of average total assets. This suggests that the business was more profitable as it returned more profit on assets and assets were managed more effectively; land and buildings were purchased, inventories increased and so did bank balance and trade recieveables.