Some 17 state companies have increased efficiency and revenues by 40%, Ukraine's Prime Minister Arseniy Yatseniuk has said.

"Over the past year the proceeds of these state companies increased by almost 40%, while profits overall totaled $2.6 billion. If compared to the last year's loss – UAH 7.4 billion – we have improved the financial result by UAH 10 billion," Yatseniuk stated.

He made these comments on air of "10 Minutes with the Prime Minister" program on Sunday night.

Yatseniuk said Energorynok has improved its financial results by UAH 1.6 billion, and the Ukrainian Sea Port Authority – by UAH 2.3 billion.

Odesa Port-Side Plant has become a profitable venture for the first time in 10 years, posting a UAH 500 million profit. Naftogaz Ukraine has improved financial results by UAH 65 billion, even though the company in the past had always posted losses.

"The government's position is that we need to completely change management and the system of control at state companies," the premier said.

Centrenergo, Ukrspyrt and Ukrnafta, meanwhile, posted poor financial results.