MIRA
INFORM REPORT
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Report Date : |
03.03.2011 |
IDENTIFICATION DETAILS
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Name : |
GALLAGHER GROUP LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.02.1974 |
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Legal Form : |
NZ Limited Company |
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Line of Business : |
Manufacture and distribution of animal management and security
management systems |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
REGISTERED NAME
GALLAGHER GROUP LTD
ADDRESS GIVEN
CORPORATE SEARCH
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Entity Type: |
NZ Limited Company |
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Incorporated: |
01 Feb 1974 |
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Current Status: |
Registered |
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Constitution Filed: |
Yes |
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February |
Registered Office
Address for Service
Directors
GALLAGHER, John Allan
Oriel House,
GALLAGHER, William Murray
TUCKER, Steven James
Shareholdings
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Total Number of Shares: |
3,959,513 |
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Extensive Shareholdings: |
No |
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3,959,513 |
1187732 GALLAGHER HOLDINGS LIMITED C/o Gallagher Group, |
BUSINESS STRUCTURE
TRADING ADDRESS 181
Kahikatea Dr
HAMILTON,
NZ
TELEPHONE (647)
838 9800
FACSIMILE (647) 838 9801
HOLDING ENTITY GALLAGHER HOLDINGS LTD
ASSOCIATED
ENTITIES GALLAGHER ANIMAL
MANAGEMENT
PEC
FUEL PUMPS
GALLAGHER
PLASTICS
SUNPLAS
ENGINEERING
GALLAGHER
SECURITY MANAGEMENT SYSTEMS
BANKERS ANZ
NATIONAL BANK
WESTPAC
BANK
BNZ
EMPLOYEES 650
(group)
BACKGROUND
The subject was incorporated in
The group was established in the 1930's when
Bill Gallagher senior, founder of the Gallagher Group, used his ingenuity to
develop practical mechanical solutions for his underdeveloped farm.
In 1937 Bill Gallagher made his first electric fence.
The Gallagher Group won its first awards in
the 1970s with the BEV Mains Energizer at the Orange Field Days in
OPERATIONS
The subject operates in the manufacture and
distribution of animal management and security management systems.
Products include electric fences and access
control systems.
Activities are conducted from premises located
at the above listed trading address.
FINANCES
The subject is not required to lodge
financial statements with the New Zealand Companies Office.
During the current interview conducted with
the subjects Financial Controller, Simon Grappius he advised that for the last
financial year ended 31 March 2010 the group traded profitably and recorded
revenue of NZ$164 million.
Improvements in revenue and profit results
are forecast for the current financial year ending 31 March 2011.
Current assets include group inventories of
NZ$38 million at 31 March 2010.
At 31 March 2010 the group had total
borrowings of $27 million. This has since increased to NZ$35 million following
the acquisition of the Australian distribution activities.
At 31 March 2010 the Group recorded total
assets of NZ$124 million and Net Assets of NZ$65,000,000.
Further financial details were unable to be
obtained for the current enquiry.
Enquiries in trade quarters revealed
satisfaction from suppliers contacted in dealing with the subject on a credit
basis.
TRADE SURVEY
A trade survey on the subject
traced the following accounts:
- (SMI Springs) Purchases exceed $100,000 per month on 20 day terms.
Payment is met in 20 days and the account is considered satisfactory,
having been known over 15 years.
- (Monroe Springs) Nominated supplier failed to respond to
correspondence despite chasing.
SUMMARY
The subject was incorporated in
The group was established in the 1930's.
For the last financial year ended 31 March 2010 the group traded
profitably and recorded revenue of NZ$164 million.
Improvements in revenue and profit results are forecast for the current
financial year ending 31 March 2011.
At 31 March 2010 the Group recorded total assets of NZ$124 million and
Net Assets of NZ$65,000,000.
Enquiries in trade quarters revealed satisfaction from suppliers
contacted in dealing with the subject on a credit basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.