MIRA INFORM REPORT

Report Date :

13.07.2011

IDENTIFICATION DETAILS

Correct Name :	FRUIT OF THE LOOM INTERNATIONAL LIMITED

Registered Office :	Unit 6 Lisfannon Business Centrelisfannonbuncranaco Donegal, Post Code 119619

Country :	Ireland

Financials (as on) :	31.12.2009

Date of Incorporation :	08.07.1981

Com. Reg. No.:	IE083732

Legal Form :	Single Member Private Company Limited By Shares

Line of Business :	The Manufacture, Sale and Distribution of leisurewear products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	18,500 EUR

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Ireland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

Company Summary

Company Summary
Company Name	FRUIT OF THE LOOM INTERNATIONAL LIMITED
Company Number	IE083732
Telephone Number
Address	UNIT 6 LISFANNON BUSINESS CENTRE, LISFANNON, BUNCRANA, CO DONEGAL
Town Code	119619
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Incorporation Date	08/07/1981

Company Information

Address Information
Company Name	FRUIT OF THE LOOM INTERNATIONAL LIMITED
Company Number	IE083732
Registered Office Address	UNIT 6 LISFANNON BUSINESS CENTRELISFANNONBUNCRANACO DONEGAL
Registered Office Post Code	119619
Registered Telephone No.
TPS Registered	N
Trading Address
Trading Postal Code
Trading Telephone Number
TPS Registered

CREDIT RECOMENDATION

Current Credit Limit: 18,500 EUR

DIRECTORS/MANAGEMENT

Directors

Director
Directors Title
Name of Director	GEORGE WILLIAM NEWTON
Address of Director	3950 WOODLAWN DRIVE, NASHVILLE, TN 37205, USA
Postcode of Director
Date of Birth	20/11/1952
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	24/11/2008

Director
Directors Title
Name of Director	BRIAN DOMINIC KENNEDY
Address of Director	69 CASHELMORE PARK, DERRY BT 48, 0 RU, NORTHERN IRELAND
Postcode of Director
Date of Birth	02/08/1965
Nationality of Director
Director Honours
Present Appointments	2
Function	Director
Appointment Date	24/11/2008

Director
Directors Title
Name of Director	MICHAEL JOHN MALLON
Address of Director	49 RONERAGH, FAHAN, CO. DONEGAL
Postcode of Director
Date of Birth	08/12/1963
Nationality of Director
Director Honours
Present Appointments	3
Function	Director
Appointment Date	24/11/2008

Director
Directors Title
Name of Director	GOODBODY SECRETARIAL LIMITED
Address of Director	IFSC,, NORTH WALL QUAY,, DUBLIN 1.
Postcode of Director
Date of Birth	20/12/1984
Nationality of Director
Director Honours
Present Appointments	0
Function	Company Secretary
Appointment Date	26/08/1992
Director
Directors Title
Name of Director	LEONARD RUTHERFORD MARBURY
Address of Director	5 JACQUELINE WAY, BLIGHS LANE, DERRY, NORTHERN IRELAND, BT48 9PQ
Postcode of Director
Date of Birth	02/01/1947
Nationality of Director
Director Honours
Present Appointments	6
Function	Director
Appointment Date	19/04/2002

NEGATIVE INFORMATION

CCJ Summary

CCJ Summary
CCJ's Amount	0
CCJ's Value (€)	0
Writs	0

SHARE & SHARE CAPITAL INFORMATION

Shareholders information
Shares Held	7,619,582
Currency of Share	EUR

Name of Shareholder	FOL INTERNATIONAL
Nominal Value of each Share
Currency of Share	EUR

PAYMENT INFORMATION

Record of Payments

No record of payments for company.

GROUP STRUCTURE & AFFILIATED COMPANIES

Group Structure

Ultimate Parent Company Name
Parent Company Name	FRUIT OF THE LOOM INC
Number of company in Group	6
Company Name	Company Number	Accounts Date
FRUIT OF THE LOOM INC	U.S.A.
-FOL INTERNATIONAL	IE134469	31/12/2009
-FRUIT OF THE LOOM INVESTMENTS LIMITED	02459406	31/12/2009
FRUIT OF THE LOOM LIMITED	01542207	31/12/2009
FRUIT OF THE LOOM INTERNATIONAL LIMITED	IE083732	31/12/2009
FRUIT OF THE LOOM BRANDS LIMITED	IE460476	31/12/2009

FINANCIAL INFORMATION

Financial Information
Date	31/12/2009	%	31/12/2008	%	31/12/2007
Currency	NaN		NaN		NaN
Turnover	127,090,000	-11.6%	143,797,000	-11.1%	161,732,000
Shareholder Equity	-65,402,000	-87.2%	-34,933,000	-227.7%	-10,660,000
Number of employees	25	-	48	-	66

Accounts & Ratios

Period
Date From	01/01/2009	%	02/01/2008	%	01/01/2007
Date To	31/12/2009	-	31/12/2008	-	31/12/2007
Period of Month	12	-	12	-	12
Currency	EUR	-	EUR	-	EUR
Profit & Loss
Consolidated Accounts	N	-	N	-	N
Turnover	127,090,000	-11.6%	143,797,000	-11.1%	161,732,000
Export	-	-	-	-	-
Cost of Sales	130,989,000	-7.1%	140,976,000	-3.6%	146,311,000
Gross Profit	-3,899,000	-238.2%	2,821,000	-81.7%	15,421,000
Operating Profit	-26,388,000	-45.7%	-18,111,000	-106.4%	-8,776,000
Pre-Tax Profit	-30,475,000	-28.6%	-23,703,000	-37.1%	-17,293,000
Tax	6,000	114.6%	-41,000	-1,466.7%	3,000
Post-Tax Profit	-30,469,000	-28.3%	-23,744,000	-37.3%	-17,290,000
Dividends	0	-	0	-	0
Retained Profit	-30,469,000	-28.3%	-23,744,000	-37.3%	-17,290,000
Interest Payable	1,975,000	-58.5%	4,764,000	-15.5%	5,640,000
Directors Remuneration	504,000	-59.4%	1,241,000	308.2%	304,000
Wages & Salaries	1,792,000	-24.1%	2,360,000	-41.6%	4,042,000
Depreciation of Tangibles	7,000	-75.0%	28,000	-60.0%	70,000
Auditor Fees	124,000	-11.4%	140,000	-0.7%	141,000

Capitals & Reserves
Called up Share Capital	7,620,000	0.0%	7,620,000	0.0%	7,620,000
P&L Account Reserve	-170,480,000	-21.8%	-140,011,000	-21.0%	-115,738,000
Sundry Reserves	97,458,000	0.0%	97,458,000	0.0%	97,458,000
Revaluation Reserve	0	-	0	-	0
Shareholder Funds	-65,402,000	-87.2%	-34,933,000	-227.7%	-10,660,000
Net Worth	-65,402,000	-87.2%	-34,933,000	-227.7%	-10,660,000

Miscellaneous
Net Cashflow from Operations	0	-	0	-	0
Net Cashflow before Financing	0	-	0	-	0
Net Cashflow from Financing	0	-	0	-	0
Capital Employed	-41,998,000	-310.5%	-10,230,000	-150.7%	20,163,000
No of Employees	25	-47.9%	48	-27.3%	66

Balance Sheet
Tangible Assets	687,000	-1.9%	700,000	-87.4%	5,573,000
Intangible Assets	0	-	0	-	0
Total Fixed Assets	687,000	-1.9%	700,000	-87.4%	5,573,000
Stocks & Work-in-Progress	53,777,000	-33.4%	80,778,000	7.7%	74,998,000
Debtors
- Trade Debtors	270,000	-14.8%	317,000	-18.1%	387,000
Cash	295,000	-38.5%	480,000	-98.6%	35,483,000
Misc. Current Assets	0	-	0	-	0
Total Current Assets
Creditors
- Trade Creditors	1,775,000	-2.9%	1,828,000	86.9%	978,000
- Bank Overdraft	0	-100.0%	272,000	8.4%	251,000
Increase in Cash	-185,000	99.5%	-35,003,000	-	0
Total Current Liabilities	307,631,000	4.6%	294,210,000	6.4%	276,609,000
Other Short Term Loans	304,386,000	5.4%	288,801,000	6.2%	271,825,000
Miscellaneous Current Liabilities	1,470,000	-55.6%	3,309,000	-6.9%	3,555,000
Other Long Term Finance	22,855,000	0.0%	22,855,000	0.0%	22,855,000
Total Long Term Liabilities	23,404,000	-5.3%	24,703,000	-19.9%	30,823,000
Overdraft Long Term Liabilites	23,404,000	-6.3%	24,975,000	-19.6%	31,074,000
Liabilities	331,035,000	3.8%	318,913,000	3.7%	307,432,000
Net Assets	-65,402,000	-87.2%	-34,933,000	-227.7%	-10,660,000
Working Captial	-42,685,000	-290.5%	-10,930,000	-174.9%	14,590,000
Current Assets	264,946,000	-6.5%	283,280,000	-2.7%	291,199,000
Other Current Assets	210,604,000	4.4%	201,705,000	11.9%	180,331,000

Ratios
Date To	31/12/2009	%	31/12/2008	%	31/12/2007
Trading Performance
Pre-Tax Profit Margin	-24.0 %	-	-16.5 %	-	-10.7 %
Return on Capital Employed	72.6 %	-	231.7 %	-	-85.8 %
Return on Total Assets Employed	-11.5 %	-	-8.3 %	-	-5.8 %
Return on Net Assets Employed	46.6 %	-	67.9 %	-	162.2 %
Sales/Net Working Capital	-2.98	-	-13.16	-	11.09
Operating Efficiency
Stock Turnover Ratio	42.3 %	-	56.2 %	-	46.4 %
Debtor Days	0.78	-	0.80	-	0.87
Creditor Days	5.10	-	4.64	-	2.21
Short Term Stability
Current Ratio	0.86	-	0.96	-	1.05
Liquidity Ratio/Acid Ratio	0.68	-	0.68	-	0.78
Current Debt Ratio	-4.7 %	-	-8.4 %	-	-25.9 %
Long Term Stability
Gearing	-35.8 %	-	-71.5 %	-	-291.5 %
Equity in Percentage	-24.6 %	-	-12.3 %	-	-3.6 %
Total Debt Ratio	-5.1 %	-	-9.1 %	-	-28.8 %

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Auditor/Banker's Information
Auditor Name	ERNST & YOUNG
Auditor Qualification	No Adverse Comments
Banker Name	BARCLAYS BANK PLC
Banker Sort Code

Other Information
Website Address
Incorporation Date	08/07/1981
Company Type	SINGLE MEMBER PRIVATE COMPANY LIMITED BY SHARES
Type of Accounts	Full Accounts
Date of Latest Accounts	31/12/2009
Filing Date of Accounts
Annual Return Date	29/09/2010

Industry Information
Industry Description	The manufacture, sale and distribution of leisurewear products.

Mortgage Information
Mortgages(s) Outstanding	0
Mortgages(s) Satisfied	0

Mortgage Type
Date Charge Created
Date Charge Registered
Date Charge Satisfied
Status
Person(s) Entitled
Amount Secured
Details

Company History

Event History
Date	Description
08/10/2010	New Accounts Filed
08/10/2010	New Accounts Filed
07/10/2010	Annual Returns
21/09/2009	New Accounts Filed
21/09/2009	New Accounts Filed
18/09/2009	Annual Returns
24/11/2008	MICHAEL COLUMBA GALLANAGH has left the board
24/11/2008	KEVIN CHARLES CONAGHAN has left the board
24/11/2008	New Board Member (MICHAEL JOHN MALLON) appointed
24/11/2008	New Board Member (GEORGE WILLIAM NEWTON) appointed
24/11/2008	New Board Member (BRIAN DOMINIC KENNEDY) appointed
19/11/2008	New Accounts Filed
16/11/2008	Annual Returns

Status History
No status history for this company.

Image Accounts

Accounts Images
31-12-2009
31-12-2007
31-12-2006

Returns Images
31-12-2009
31-12-2007
31-12-2006
13-01-1987
13-01-1987
13-01-1987
13-01-1987

Other Images
13-09-2010	B10 CHANGE IN DIRS/SEC
26-04-2010	B2 CHANGE IN SITUATION OF REG OFFICE.
02-01-2009	B10 CHANGE IN DIRS/SEC
21-12-2007	B2 CHANGE IN SITUATION OF REG OFFICE.
09-05-1989	B10 CHANGE IN DIRS/SEC
21-04-1989	AMENDED MEMORANDUM AND ARTICLES.
13-02-1989	B5 RETURN OF ALLOTMENTS.
13-02-1989	G1 SPECIAL RESOLUTION
24-01-1989	B2 CHANGE IN SITUATION OF REG OFFICE.
12-05-1988	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
21-01-1988	B5 RETURN OF ALLOTMENTS.
21-01-1988	G1 SPECIAL RESOLUTION
21-01-1988	G1 SPECIAL RESOLUTION
21-01-1988	G1 ORDINARY RESOLUTION
09-07-1987	B10 CHANGE IN DIRS/SEC
18-11-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
12-06-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
04-06-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
27-05-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
27-05-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
26-05-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
26-05-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
02-01-1986	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
05-07-1985	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
01-11-1984	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
30-08-1984	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
08-03-1983	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
15-02-1983	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
14-05-1982	C1 MORT/ CHARGE CREATED BY IRISH COMPANY
08-07-1981	CERTIFICATE

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.69
UK Pound	1	Rs.70.87
Euro	1	Rs.62.26

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.