MIRA INFORM REPORT

Report Date :

08.11.2012

IDENTIFICATION DETAILS

Name :	DELABLI
Registered Office :	1er Etage 77 Bd Haussmann 75008 Paris 8
Country :	France
Financials (as on) :	30.06.2011
Date of Incorporation :	November 1986
Com. Reg. No.:	RCS Paris 8 308 448 851
Legal Form :	Simplified joint stock company
Line of Business :	Processing and preserving of fish, crustaceans and molluscs
No. of Employees :	986 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
France	A1	A1

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

FRANCE - ECONOMIC OVERVIEW

France was transitioning from an economy that has featured extensive government ownership and intervention to one that relies more on market mechanisms but is in the midst of a euro-zone crisis. The government has partially or fully privatized many large companies, banks, and insurers, and has ceded stakes in such leading firms as Air France, France Telecom, Renault, and Thales. It maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 75 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011. The unemployment rate increased from 7.4% in 2008 to 9.3% in 2010 and 9.1% in 2011. Lower-than-expected growth and increased unemployment have cut government revenues and increased borrowing costs, contributing to a deterioration of France's public finances. The government budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 5.8% of GDP in 2011, while France's public debt rose from 68% of GDP to 86% over the same period. Under President SARKOZY, Paris implemented austerity measures that eliminated tax credits and froze most government spending in an effort to bring the budget deficit under the 3% euro-zone ceiling by 2013 and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt levels. Socialist Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, as well as measures such as forcing banks to separate their traditional deposit taking and lending activities from more speculative businesses, increasing taxes on bank profits, introducing a new top bracket on income taxes for people earning over €1 million ($1.3 million) a year, and hiring an additional 60,000 civil servants during his five-year term of office.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

DELABLI

company summary

		EUR VAT Number	FR30308448851
Activity (APE)	Processing and preserving of fish, crustaceans and molluscs (1020Z)	Legal form	Simplified joint stock company
Phone	01 53 30 72 70	RCS Registration	RCS Paris 8 308 448 851
Fax		Share capital	35,142,942 Euros
Address	DELABLI 1ER ETAGE 77 BD HAUSSMANN 75008 PARIS 8	Incorporated Date	11/1986
Nationality Trading Address	France ETS Adrimex 44860 St Aignam De Grand Lieu France	Status	Economically active

Company details

Activity (APE)	Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)
RCS Registration	RCS Paris 8 308 448 851	Share capital	35,142,942 Euros
Registration Court	Paris (75)	Legal form	Simplified joint stock company
Court Registry Number	19 8 6B126	EUR VAT Number	FR30308448851
Incorporation Date	11/1986	Formation Date	07/1985
Deregistration Date		Last account Date	30/06/2010
Nationality	France

Establishment details

Activity (APE)	Conseil pour les affaires et autres conseils de gestion (7022Z)	Business Pages FT®
Postal Address	DELABLI 1ER ETAGE 77 BD HAUSSMANN 75008 PARIS 8	Trading Address	77 BOULEVARD HAUSSMANN 75008 PARIS 8
Telephone	01 53 30 72 70
Fax

Type	Head office	Status	Economically active
Formation Date	07/2010	Reason for formation	Formation
Closure Date		Reason for closure	Closed
Reactivation Date		Production Role
Activity Nature	Services	Activity Location	Office
Location surface		Seasonality

Department		Region	Ile-de-France
District		Area
City	PARIS 8	Size of urban area

Other establishments

Branches	9 branch entities in this company
Head office	> DELABLI <<<  - Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)  in PARIS 8  (75008)
Secondary establishments	>  DELABLI  - Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)  in CHEVILLY  (45520) >  DELABLI  - Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)  in SCHIRMECK  (67130) >  DELABLI  - Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)  in TROARN  (14670) >  DELABLI  - Transformation et conservation de poisson, de crustacés et de mollusques (1020Z)  in WISCHES  (67130) > ...

Regionality	Legal unit with multiple establishments in many areas but no one grouping more than 50% of workforce
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 50 to 80% of workforce

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. GOVARE XAVIER
Manager position	Président	Date of birth	18/01/1958
Place of birth	SURESNES (92150)
Type	Individual	Name at birth

Previous Directors

View the directors history for this company
If you want to view the directors history, please click on the link view details.

Manager position	Title and name	Date of Birth/Place of Birth
Président	M XAVIER GOVARE	- - -
Président	M XAVIER GOVARE	18/01/1958 - SURESNES
Président	M XAVIER GOVARE	18/01/1958 - SURESNES (92150)
Président	M PHILIPPE PERRINEAU	05/02/1956 - PAU

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Na

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company
	Company Name	Company number
	LUR BERRI COOPÉRATIVE AGRICOLE	782369409

Ultimate Parent

1 ultimate parent company for this company >  LUR BERRI COOP AGRICOLE  - Commerce de gros (commerce interentreprises) d'animaux vivants (4623Z)  in AICIRITS CAMOU SUHAST  (64120)

Group data

Ultimate parent company	LUR BERRI COOPÉRATIVE AGRICOLE
Direct parent	LABEYRIE FINE FOODS - 100 %
Group – Number of companies	48
Linkages – Number of companies	32
Number of countries	13

Company Name	SIREN	Parts	Last account published
LUR BERRI COOP AGRICOLE	782369409	-	31/08/2009
LABEYRIE FINE FOODS	414816967	62.90%	30/06/2011
FARNE SALMON AND TROUT LTD	-	100%	-
LABEYRIE NORGE AS	962284906	100%	30/06/2011
LABEYRIE	347902587	100%	30/06/2011
DELABLI	308448851	100%	30/06/2010
ZILIA HOLDING NV	-	100%	-
SEDINI NV	-	100%	-
VENSY ESPAÑA	88996	100%	30/06/2009
VENSY PORTUGAL LTDA	-	100%	-
PALMITOU	383181740	49%	28/02/2011
D&F	-	100%	-
SIF NORWAY	-	100%	-
SIFTOR HOLDING AS	-	100%	-
NJORD AS	985337691	100%	31/12/2011
SIF PRIME FOODS LTD	-	100%	-
LYONS SEAFOODS LTD	-	100%	-
UNION BOVINE ADOUR GARONNE	384239745	36.50%	31/08/2011
LUR BERRI HOLDING	632720371	100%	31/08/2010
ARCADIE SUD OUEST	352554661	43%	31/12/2011
HARAGUY-JAMBON DE BAYONNE	430423426	34%	30/06/2011
SPANGHERO SAS	721950046	98%	31/12/2010
SOCIETE NOUVELLE SPANGHERO TRAIT...	401954334	100%	31/12/2008
SPANGHERO NEGOCE	400268603	100%	31/12/2005
GAMM VERT SUD OUEST	415192335	Min blocking	30/06/2011
PALMITOU	383181740	51%	28/02/2011
MB BRICO SUD OUEST	504706482	66%	31/08/2011
VERTAMONT DISTRIBUTION	353541568	100%	31/08/2010
SCI VERTAMONT	352277602	100%	-
M B DECOR	329770432	100%	31/08/2011
BRIKO HENDAYA	383191871	100%	31/08/2011
MARTIKO	-	50%	-
LUR BERRI DISTRIBUTION	391430121	100%	31/08/2011
SAGA BOUET	986320232	100%	31/08/2011
LUR BERRI BRICOLAGE	431788827	100%	31/08/2011
LUR BERRI JARDINERIES	384797890	100%	31/08/2011
LB	096180252	100%	31/08/2011
FERTIRESO	502506660	51%	31/08/2011
LBO	378892442	100%	31/08/2011
EUROCOB	407774025	Min blocking	31/12/2011
ETABLISSEMENTS PEDEFER	302589478	100%	31/08/2011
COUSTENOBLE	332037977	100%	31/08/2011
PRAVILAND	379876410	100%	31/08/2011
ALISO TRAVAUX AGRICOLES	398905984	100%	31/08/2011
AX'EL	434066924	100%	31/08/2011
AGROPECUARIA DEL PATO	2298399	Min blocking	31/12/2011
CIRCE SCI	377842539	99.99%	-
LURALI	432617769	45.40%	31/08/2011

Linkages

Ultimate parent company	LUR BERRI COOPÉRATIVE AGRICOLE
Direct parent	LABEYRIE FINE FOODS - 100 %
Group – Number of companies	48
Linkages – Number of companies	32
Number of countries	13

Company Name	SIREN	Last account	Turnover
ALFESCA	2148773	30/06/2008	647 387 000 €
LUR BERRI UK LIMITED	05301923	30/06/2011	4 076 194 £
LYONS SEAFOODS LIMITED	02987743	25/06/2011	104 175 000 £
CHRISTIANSEN PARTNER AS	977175364	31/12/2010	21 389 528 €
ICELAND SEAFOOD FRANCE	431738160	31/12/2011	19 062 108 €
DANMAID LIMITED	01983988	01/03/2012	-
ADRIMEX	-	-	-
BLINI SAS	-	-	-
D&F	-	-	-
DELPIERRE SAS	-	-	-
FARNE SALMON AND TROUT LTD	-	-	-
GUERADIS SARL	-	-	-
ICELAND SEAFOOD EHF	-	-	-
LABEYRIE SAS	-	-	-
LE TRAITEUR GREC	-	-	-
LYONS SEAFOOD LTD.	-	-	-
NORD OCEAN EHF	-	-	-
PIERRE GUERACAGUE SAS	-	-	-
SALTKAUP HF	-	-	-
SIF CANADA LTD	-	-	-
SIF FRANCE SAS	-	-	-
SIF HELLAS SA	-	-	-
SIF ICELAND SEAFOOD GMBH	-	-	-
SIF ICELAND SEAFOOD LTD	-	-	-
SIF ITALIA SRL	-	-	-
SIF NORWAY	-	-	-
SIF PRIME FOODS LTD	-	-	-
SIF SPAIN SL	-	-	-
SIFTOR HOLDING AS	-	-	-
TROS EHF	-	-	-
VENSY PORTUGAL LTDA	-	-	-
ZILIA HOLDING NV	-	-	-

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	30/06/2010	30/06/2009
Account period (month)	12	12
Account Type	Normal	Normal
Deposit date	17/02/2011	11/02/2010
Activity Code	1020Z	1020Z
Employees	986	0	-

Active account

Annual Accounts	30/06/2010		30/06/2009	Sector Median 2010
Capital not called	0	0%	0	0	0%
Total fixed assets	89 865 418	0,4%	89 477 188	216 884	41334,8%
- Intangible assets	54 071 516	-2,4%	55 425 332	6 097	886754,5%
- Tangible assets	35 673 182	5,3%	33 881 011	113 048	31455,8%
- Financial assets	720 373	-6,5%	770 498	4 350	16460,3%
Net current assets	75 126 942	-8,5%	82 072 116	567 600	13135,9%
- Stocks	33 900 058	24,6%	27 206 821	96 769	34931,9%
- Advanced payments	5 621 078	-8,5%	1 321 034	0	0%
- Receivables	31 599 322	-0,8%	31 839 257	318 510	9821,0%
- Securities and cash	4 006 484	-81,5%	21 705 004	88 360	4434,3%
- Prepaid expenses	-	-	-	524	-
Accounts of regularization	175 905	0%	0	0	0%
Total Assets	165 168 263	-3,7%	171 549 306	936 204	17542,3%

Passive Account

Annual Accounts	30/06/2010		30/06/2009	Sector Median 2010
Shareholders' equity	115 352 025	9,5%	105 335 631	204 217	56385,0%
Share capital	33 135 645	0%	33 135 645	80 000	41319,6%
Other capital resources	0	0%	0	0	0%
Risk Provisions	2 013 678	76,1%	1 143 520	0	0%
Liabilities	47 719 201	-26,7%	65 070 155	580 379	8122,1%
- Financial liabilities	244 080	-97,7%	10 578 304	87 349	179,4%
- Advanced payments received	0	0%	0	0	0%
- Trade account payables	28 014 517	32,9%	21 074 959	200 245	13890,1%
- Tax and social liabilities	10 891 888	11,6%	9 755 993	161 844	6629,9%
- Other debts and fixed assets liabilities	8 652 077	-63,4%	23 651 528	15 140	57047,1%
Account regularization	0	0%	9 371	0	0%
Total liabilities	165 168 263	-3,7%	171 549 306	936 204	17542,3%

Results

Annual Accounts	30/06/2010		30/06/2009	Sector Median 2010
Sales of Goods	245 372 100	424,4%	46 788 802	1 840 319	13233,1%
Net turnover	243 703 663	427,8%	46 172 975	1 833 123	13194,5%
- of which net export turnover	0	0%	0	0	0%
Operating charges	234 923 364	459,8%	41 966 809	1 801 707	12938,9%
Operating profit/loss	10 448 736	116,7%	4 821 993	23 865	43682,7%
Financial income	2 078 976	1478,0%	131 746	176	1181136,4%
Financial charges	2 909 737	-85,2%	19 701 282	4 681	62060,6%
Financial profit/loss	-830 761	95,8%	-19 569 536	-2 602	-31827,8%
Pretax net operating income	9 617 975	165,2%	-14 747 543	20 259	47375,1%
Extraordinary income	1 480 666	-90,4%	15 353 468	4 799	30753,6%
Extraordinary charges	2 296 972	277,6%	608 311	3 168	72405,4%
Extraordinary profit/loss	-816 306	-39,1%	14 745 157	0	0%
Net result	8 974 487	2021180,9%	444	18 901	47381,5%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	30/06/2010	30/06/2009
Months	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			30/06/2010		30/06/2009
	Grand Total (I to VI)	Net	165 168 263	-3,7%	171 549 306
	Gross	CO	211 718 545	-0,4%	212 536 632
	Amortisation	1A	46 550 282	13,6%	40 987 327

Non declared distributed capital (I)

		30/06/2010		30/06/2009
Non declared distributed capital (I)	AA3	0	0%	0
Gross	AA	0	0%	0

Active fixed asset (II)

			30/06/2010		30/06/2009
	Total Active fixed asset (II)	Net	89 865 418	0,4%	89 477 188
	Gross	BJ	134 170 893	3,4%	129 745 292
	Amortisation	BK	44 305 475	10,0%	40 268 104

Intangilble fixed assets

			30/06/2010		30/06/2009
	Start-up cost	Net	0	0%	0
	Gross	AB	0	0%	0
	Amortisation	AC	0	0%	0
	R & D expenses	Net	0	0%	16 896
	Gross	CX	74 500	0%	74 500
	Amortisation	AE	74 500	29,3%	57 604
	Distributorships, patents	Net	12 687 383	-7,6%	13 728 621
	Gross	AF	21 319 855	-5,9%	22 651 675
	Amortisation	AG	8 632 472	-3,3%	8 923 054
	Goodwill	Net	40 747 878	0%	40 747 878
	Gross	AH	41 347 531	0%	41 347 531
	Amortisation	AI	599 653	0%	599 653
	Other intangible fixed assets	Net	36 602	-89,0%	332 284
	Gross	AJ	227 749	-49,1%	447 514
	Amortisation	AK	191 147	65,9%	115 230
	Pre-payments and downpayments	Net	0	0%	0
	Gross	AL	0	0%	0
	Amortisation	AM	0	0%	0
Sub Total Intangible Assets		Net	53 471 863	-2,5%	54 825 679

Tangilble fixed assets

			30/06/2010		30/06/2009
	Lands	Net	659 133	-2,2%	673 805
	Gross	AN	1 287 856	0,6%	1 280 277
	Amortisation	AO	628 723	3,7%	606 472
	Buildings	Net	18 778 062	3,7%	18 100 841
	Gross	AP	29 649 095	9,3%	27 125 504
	Amortisation	AQ	10 871 033	20,5%	9 024 663
	Plant	Net	11 716 520	6,2%	11 034 307
	Gross	AR	32 275 133	13,4%	28 469 994
	Amortisation	AS	20 558 613	17,9%	17 435 687
	Other tangible fixed assets	Net	3 128 797	-11,8%	3 548 094
	Gross	AT	5 878 131	-16,7%	7 053 835
	Amortisation	AU	2 749 334	-21,6%	3 505 741
	Fixed assets in construction	Net	1 230 830	375,3%	258 963
	Gross	AV	1 230 830	375,3%	258 963
	Amortisation	AW	0	0%	0
	Advances and payments on account	Net	159 840	-39,7%	265 001
	Gross	AX	159 840	-39,7%	265 001
	Amortisation	AY	0	0%	0
	Sub Total Tangible asset	Net	35 673 182		33 881 011

Financial assets

			30/06/2010		30/06/2009
	Associates at equity	Net	0	0%	0
	Gross	CS	0	0%	0
	Amortisation	CT	0	0%	0
	Other participations	Net	0	0%	0
	Gross	CU	0	0%	0
	Amortisation	CV	0	0%	0
	Inter-company receivables	Net	0	0%	0
	Gross	BB	0	0%	0
	Amortisation	BC	0	0%	0
	Other investment securities	Net	293 197	0%	293 197
	Gross	BD	293 197	0%	293 197
	Amortisation	BE	0	0%	0
	Loans	Net	331 182	-15,4%	391 397
	Gross	BF	331 182	0%	391 397
	Amortisation	BG	0		0
	Other financial assets	Net	95 994	11,7%	85 904
	Gross	BH	95 994	11,7%	85 904
	Amortisation	BI	0	0%	0
	Sub Total Financial Assets		720 373		770 498

Current Assets (III)

			30/06/2010		30/06/2009
	Total Assets	Net	75 126 942	-8,5%	82 072 116
	Gross	CJ	77 371 748	-6,5%	82 791 340
	Amortisation	CK	2 244 806	212,1%	719 224

Stocks

			30/06/2010		30/06/2009
	Raw materials	Net	24 762 042	40,1%	17 678 844
	Gross	BL	25 978 692	45,0%	17 913 687
	Amortisation	BM	1 216 650	418,1%	234 843
	Work in progress (goods)	Net	1 342 514	-22,6%	1 733 903
	Gross	BN	1 392 425	-19,7%	1 733 903
	Amortisation	BO	49 911	0%	0
	Work in progress (services)	Net	0	0%	0
	Gross	BP	0	0%	0
	Amortisation	BQ	0	0%	0
	Semi-finished and finished products	Net	6 943 259	-2,4%	7 111 170
	Gross	BR	7 630 621	2,6%	7 437 221
	Amortisation	BS	687 362	110,8%	326 051
	Goods for resale	Net	852 243	24,8%	682 904
	Gross	BT	852 243	24,6%	684 201
	Amortisation	BU	0	0%	1 297
	Sub Total Stocks	Net	33 900 058	24,6%	27 206 821

Advance payments to suppliers

			30/06/2010		30/06/2009
	Advance payments to suppliers	Net	5 621 078	325,5%	1 321 034
	Gross	BV	5 621 078	325,5%	1 321 034
	Amortisation	BW	0	0%	0

Debtors

			30/06/2010		30/06/2009
	Trade accounts receivable	Net	26 675 061	8,0%	24 709 864
	Gross	BX	26 965 944	8,4%	24 866 897
	Amortisation	BY	290 883	85,2%	157 033
	Other debtors	Net	4 563 821	-32,3%	6 739 895
	Gross	BZ	4 563 821	-32,3%	6 739 895
	Amortisation	CA	0	0%	0
	Capital subscribed and called up	Net	0	0%	0
	Gross	CB	0	0%	0
	Amortisation	CC	0	0%	0
	Sub Total Debtors	Net	31 238 882	-0,7%	31 449 759

Divers

			30/06/2010		30/06/2009
	Investment securities	Net	0	0%	0
	Gross	CD	0	0%	0
	Amortisation	CE	0	0%	0
	Cash and cash equivalents	Net	4 006 484	-81,5%	21 705 004
	Gross	CF	4 006 484	-81,5%	21 705 004
	Amortisation	CG	0	0%	0
	Sub Total Divers	Net	4 006 484	-81,5%	21 705 004

Prepaid expenses

			30/06/2010		30/06/2009
	Prepaid expenses	Net	360 440	-7,5%	389 498
	Gross	CH	360 440	-7,5%	389 498
	Amortisation	CI	0	0%	0

Equalization accounts (IV to VI)

		30/06/2010		30/06/2009
Multi-period charges	CW3	0	0%	0
Gross		0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0
Gross		0	0%	0
Currency differential gain	CN3	175 905	0%	0
Gross		175 905	0%	0

References

		30/06/2010		30/06/2009
Due within one year	CP	0	0%	0
Due after one year	CR	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References

Grand Total - Passive Accounts (I to IV)

		30/06/2010		30/06/2009
Grand Total (I to V)	EE	165 168 263	-3,7%	171 549 306

Shareholder Equity (I)

			30/06/2010		30/06/2009
	Total shareholders' equity (Total I)	DL	115 352 025	9,5%	105 335 631
	Equity and shareholders' equity	DA	33 135 645	0%	33 135 645
	Issue and merger premiums	DB	56 200 508	0%	56 200 508
	Revaluation differentials	DC	0	0%	0
	Of which equity differential	EK	0	0%	0
	Legal reserve	DD	930 985	0,0%	930 963
	Statutory or contractual reserve	DE	0	0%	0
	Special regulated reserves	DF	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0
	Other reserves	DG	10 641 254	0,0%	10 640 832
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%
	Profits or losses brought forward	DH	0	0%	0
	Profit or loss for the period	DI	8 974 487	2021180,9%	444
	Investment grants	DJ	426 477	38,8%	307 267
	Special tax-allowable reserves	DK	5 042 669	22,4%	4 119 972

Other capital resources (II)

			30/06/2010		30/06/2009
	Total other capital resources (Total II)	DO	0	0%	0
	Income from participating securities	DM	0	0%	0
	Conditional loans	DN	0	0%	0

Provisions for risks and charges (III)

			30/06/2010		30/06/2009
	Total provisions for risks and charges (Total III)	DR	2 013 678	76,1%	1 143 520
	Risk provisions	DP	793 106	238,1%	234 547
	Reserves for charges	DQ	1 220 572	34,3%	908 973

Liabilities (IV)

			30/06/2010		30/06/2009
	Total Liabilities (Total IV)	EC	47 719 201	-26,7%	65 070 155
	Convertible debentures	DS	0	0%	0
	Other debentures	DT	0	0%	0
	Bank loans and liabilities	DU	0	0%	2 010
	Sundry loans and financial liabilities	DV	244 080	-97,7%	10 576 294
	Of which participating loans	EI	0	0%	0
	Advance payments received for current orders	DW	0	0%	0
	Trade accounts payables	DX	28 014 517	32,9%	21 074 959
	Tax and social security liabilities	DY	10 891 888	11,6%	9 755 993
	Fixed asset liabilities	DZ	4 999 396	163,7%	1 895 744
	Other debts	EA	3 569 320	-83,6%	21 755 784

Translation loss (V)

		30/06/2010		30/06/2009
Translation loss (Total V)	ED	83 361	0%	0

Equalization accounts

		30/06/2010		30/06/2009
Deferred income	EB	0	0%	9 371

References

		30/06/2010		30/06/2009
Of which tax-allowable reserve	EF	0	0%	0
Deferred income and liabilities	EG	0	0%	0
Of which current bank facilities	EH	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Result account
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References

1- Operating result (I-II)

		30/06/2010		30/06/2009
Operating result (Total I-II)	GG	10 448 736	116,7%	4 821 993

2 - Financial result (V - VI)

		30/06/2010		30/06/2009
Financial result (Total V-VI)	GV	-830 761	95,8%	-19 569 536

3 - Pre-tax net operating income result (I - VI)

		30/06/2010		30/06/2009
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	9 617 975	165,2%	-14 747 543

4 - Extraordinary result (VII-VIII)

		30/06/2010		30/06/2009
Extraordinary result (Total VII-VIII)	HI	-816 306	-105,5%	14 745 157

Profit or loss

		30/06/2010		30/06/2009
Profit or loss	HN	8 974 487	2021180,9%	444

Total Income (I+III+V+VII)

		30/06/2010		30/06/2009
Total Income (I+III+V+VII)	HL	248 931 742	299,7%	62 274 016

Total charges (Total II+IV+VI+VIII+IX+X)

		30/06/2010		30/06/2009
Total charges (Total II+IV+VI+VIII+IX+X)	HM	239 957 255	285,3%	62 273 570

Operating income (I)

		30/06/2010		30/06/2009
Total operating income (Total I)	FR	245 372 100	424,4%	46 788 802

Operating income (details)

			30/06/2010		30/06/2009
	Sale of goods for resale	FC	10 776 367	59434,7%	18 101
	France	FA	10 776 367	59434,7%	18 101
	Export	FB	0	0%	0
	Sale of goods produced	FF	232 927 296	404,7%	46 154 874
	France	FD	232 927 296	404,7%	46 154 874
	Export	FE	0	0%	0
	Sale of services	FI	0	0%	0
	France	FG	0	0%	0
	Export	FH	0	0%	0
	Net turnover	FL	243 703 663	427,8%	46 172 975
	France	FJ	243 703 663	427,8%	46 172 975
	Export	FK	0	0%	0
	Stocked production	FM	-148 078	18,8%	-182 322
	Self-constructed assets	FN	0	0%	165 365
	Operating grants	FO	5 854	0%	0
	Release of reserves and provisions	FP	1 723 400	172,7%	632 091
	Other income	FQ	87 261	12491,8%	693

Operating charges (II)

		30/06/2010		30/06/2009
Total operating charges (Total II)	GF	234 923 364	459,8%	41 966 809

Exploitation charges

		30/06/2010		30/06/2009
Purchase of goods for resale	FS	6 812 033	31405,1%	21 622
Change in stocks of goods for resale	FT	-168 041	-1749,4%	10 188
Purchase of raw materials	FU	126 635 608	961,8%	11 926 931
Change in stocks of raw materials	FV	-8 065 005	-3637,5%	-215 785
Other external purchases and charges	FW	60 235 810	181,1%	21 424 914
Tax, duty and similar payments	FX	3 602 500	423,1%	688 710
Payroll	FY	25 279 478	465,4%	4 471 123
Social security costs	FZ	9 494 309	523,2%	1 523 421

Depreciation

		30/06/2010		30/06/2009
Depreciation of fixed assets	GA	6 564 783	258,9%	1 829 175
Amortisation of fixed assets	GB	0	0%	0
Depreciation/amortisation of current assets	GC	2 213 441	1925,0%	109 306
Provisions for risks and charges	GD	782 618	8141,6%	9 496

Other charges

		30/06/2010		30/06/2009
Other charges	GE	1 535 830	815,8%	167 708

Operating charges (III-IV)

		30/06/2010		30/06/2009
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0

Financial income (V)

			30/06/2010		30/06/2009
	Total financial income (Total V)	GP	2 078 976	1478,0%	131 746
	Share financial income	GJ	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0
	Other interest and similar income	GL	43 102	-63,6%	118 293
	Released provisions and transferred charges	GM	0	0%	0
	Exchange gains	GN	2 035 874	15033,2%	13 453
	Net income from disposal of investment securities	GO	0	0%	0

Financial Charge (VI)

			30/06/2010		30/06/2009
	Total financial charge (Total VI)	GU	2 909 737	-85,2%	19 701 282
	Financial reserves and provisions	GQ	225 720	5898,4%	3 763
	Interest and similar charges	GR	377 265	-98,1%	19 677 474
	Exchange losses	GS	2 306 752	11407,9%	20 045
	Net loss from disposal of investment securities	GT	0	0%	0

Financial Charge (VII)

			30/06/2010		30/06/2009
	Total extraordinary income (Total VII)	HD	1 480 666	-90,4%	15 353 468
	Extraordinary operating income	HA	10 942	-87,4%	86 606
	Extraordinary income from capital transactions	HB	1 065 691	-92,9%	15 004 216
	Released provisions and transferred charges	HC	404 033	53,8%	262 646

Extraordinary charges (VIII)

			30/06/2010		30/06/2009
	Total extraordinary charges (Total VIII)	HH	2 296 972	277,6%	608 311
	Extraordinary operating charges	HE	50 852	-46,2%	94 603
	Extraordinary charges from capital transactions	HF	938 687	1074,2%	79 940
	Extraordinary reserves and provisions	HG	1 307 433	201,4%	433 768

Employee profit sharing (IX)

		30/06/2010		30/06/2009
Employee profit sharing (Total IX)	HJ	0	0%	0

Tax on profits (X)

		30/06/2010		30/06/2009
Tax on profits (Total X)	HK	-172 818	-6002,3%	-2 832

References

		30/06/2010		30/06/2009
Of which equipment leases	HP	0	0%	73 502
Of which property leases	HQ	0	0%	1 323
Of which transferred charges	A1	0	0%	0
Of which trader's own contributions	A2	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomer tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

			30/06/2010		30/06/2009
	Gross value at begin of period	OG	0	0%	0
	Increasess due to revaluation	OH	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0
	Decreasess by transfers	OK2	4 661 000	0%	0
	Gross value at the end of period	OL	134 171 000	0%	0

Research and development Charge (Total I)

			30/06/2010		30/06/2009
	Gross value at begin of period	CZ	0	0%	0
	Increasess due to revaluation	KB	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0
	Decreasess by transfers	C02	0	0%	0
	Gross value at the end of period	D0	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			30/06/2010		30/06/2009
	Gross value at begin of period	KD	64 521 000	0%	0
	Increasess due to revaluation	KE	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	462 000	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0
	Decreasess by transfers	LV2	2 014 000	0%	0
	Gross value at the end of period	LW	62 969 000	0%	0

Tangible fixed assets (Total III)

			30/06/2010		30/06/2009
	Gross value at begin of period	LN	64 454 000	0%	0
	Increasess due to revaluation	LO	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	8 606 000	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0
	Decreasess by transfers	NG2	2 578 000	0%	0
	Gross value at the end of period	NH	70 482 000	0%	0

Fiancial assets (Total IV)

			30/06/2010		30/06/2009
	Gross value at begin of period	LQ	770 000	0%	0
	Increasess due to revaluation	LR	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	18 000	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0
	Decreasess by transfers	NJ2	68 000	0%	0
	Gross value at the end of period	NK	720 000	0%	0

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			30/06/2010		30/06/2009
	Reserve for depreciation value at begin of period	0N	0	0%	0
Increases		0P	0	0%	0
Decreasess		0Q	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0

Research and development charge (Total I)

			30/06/2010		30/06/2009
	Reserve for depreciation value at begin of period	CY	0	0%	0
Increases		PB	0	0%	0
Decreasess		PC	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0

Other intangible assets (Total II)

			30/06/2010		30/06/2009
	Reserve for depreciation value at begin of period	PE	9 695 000	0%	0
Increases		PF	1 016 000	0%	0
Decreasess		PG	1 213 000	0%	0
	Decreasess by budget item transfer	PH	9 498 000	0%	0

Total fixed assets amotisation (Total III)

			30/06/2010		30/06/2009
	Reserve for depreciation value at begin of period	QU	30 573 000	0%	0
Increases		QV	5 551 000	0%	0
Decreases		QW	1 317 000	0%	0
	Decreasess by budget item transfer	QX	34 807 000	0%	0

Movements during period affecting charge allocated over several period
Charges à répartir ou frais d'émission d'emprunt

			30/06/2010		30/06/2009
	Gross value at begin of period	Z91	0	0%	0
Increases		Z92	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0

Premium refund of obligations

			30/06/2010		30/06/2009
	Net value at begining of period	SP1	0	0%	0
Increases		SP2	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0
	Net value at the end of period	SR	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			30/06/2010		30/06/2009
	Value at begining of period	7C	5 983 000	0%	0
Increases		UB	4 526 000	0%	0
Decreases		UC	1 208 000	0%	0
	Value at the end of period	UD	9 301 000	0%	0

Includes Total allocations

Operating	UE	0	0%	0
Financial	UG	0	0%	0
Exceptional	UJ	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0
Financial	UH	0	0%	0
Exceptional	UK	0	0%	0

Total regulated provisions (Total I)

			30/06/2010		30/06/2009
	Value at begining of period	3Z	4 120 000	0%	0
Increases		TS	1 305 000	0%	0
Decreases		TT	382 000	0%	0
	Value at the end of period	TU	5 043 000	0%	0

Total risk and charge provisions (Total II)

			30/06/2010		30/06/2009
	Value at begining of period	5Z	1 143 000	0%	0
Increases		TV	1 008 000	0%	0
Decreases		TW	138 000	0%	0
	Value at the end of period	TX	2 013 000	0%	0

Total Provision for depreciation (Total III)

			30/06/2010		30/06/2009
	Value at begining of period	7B	719 000	0%	0
Increases		TY	2 214 000	0%	0
Decreases		TZ	688 000	0%	0
	Value at the end of period	UA	2 245 000	0%	0

State deadlines claims and debts at the end of period
State claims

		30/06/2010		30/06/2009
Gross value	VT	31 530 000	0%	0
1 year at most	VU	31 530 000	0%	0
More than one year	VV	0	0%	0

State of loans

		30/06/2010		30/06/2009
Claims related to holdings (gross)	UL	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0
Loans (gross)	UP	0	0%	0
Loans (1 year at most)	UR	0	0%	0
Other financial assets (gross)	UT	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0

Receivables statement of assets

		30/06/2010		30/06/2009
Customers doubtful or disputed	VA	0	0%	0
Other claims customer	UX	26 966 000	0%	0
Receivables represent Loaned Securities	UU	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0
Personnel and associated accounts	UY	0	0%	0
Social Security and other social organizations	UZ	0	0%	0
Income taxes	VM	0	0%	0
Value added tax	VB	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0
Group and Associates	VC	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	4 564 000	0%	0

Prepaid

		30/06/2010		30/06/2009
Prepaid	VS	0	0%	0

State Debt

			30/06/2010		30/06/2009
	Total debt (gross)	VY	47 719 000	0%	0
1 year at most		VZ2	47 549 000	0%	0
More than 1 year and 5 years at most		VZ3	155 000	0%	0
More than 5 years		VZ4	15 000	0%	0

Details

			30/06/2010		30/06/2009
	Convertible bonds (gross)	7Y1	0	0%	0
1 year at most		7Y2	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0
1 year at most		7Z2	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0
1 year at most		VG2	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0
1 year at most		VH2	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0
	Loans and various financial liabilities (gross)	8A1	244 000	0%	0
1 year at most		8A2	74 000	0%	0
More than 1 year and 5 years at most		8A3	155 000	0%	0
	Suppliers and associated accounts (gross)	8B1	28 015 000	0%	0
1 year at most		8B2	28 015 000	0%	0
More than 1 year and 5 years at most		8B3	28 015 000	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0
1 year at most		8C2	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0
	Social Security and other social organizations (gross)	8D1	10 892 000	0%	0
1 year at most		8D2	10 892 000	0%	0
More than 1 year and 5 years at most		8D3	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0
1 year at most		8E2	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0
	VAT (gross)	VW1	0	0%	0
1 year at most		VW2	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0
1 year at most		VX2	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0
1 year at most		VQ2	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	4 999 000	0%	0
1 year at most		8J2	4 999 000	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0
More than 5 years		8J4	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0
1 year at most		VI2	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0
More 5 years		VI4	0	0%	0
	Other liabilities (gross)	8K1	3 569 000	0%	0
1 year at most		8K2	3 569 000	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0
1 year at most		SZ2	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0
	Products in advance (gross)	8L1	0	0%	0
1 year at most		8L2	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0

References

		30/06/2010		30/06/2009
Loans made during the period	VJ	0	0%	0
Debt repaid during the period	VK	0	0%	0

Table allocation results and other information
Dividends distributed

		30/06/2010		30/06/2009
Dividends	ZE	0	0%	0

Commitments

		30/06/2010		30/06/2009
Commitments leasing furniture	YQ	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0

Other charges Externes

		30/06/2010		30/06/2009
Subcontracting	YT	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0
Staff outside the company	YU	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0
Other accounts	ST	0	0%	0
Total Other purchases and external	ZJ	0	0%	0

Taxes and Fees

		30/06/2010		30/06/2009
Business tax	YW	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0
Total taxes and fees	YX	0	0%	0

VAT

		30/06/2010		30/06/2009
Amount VAT collected	YY	0	0%	0
Total VAT on goods and services	YZ	0	0%	0

Average number of employees

		30/06/2010		30/06/2009
Average number of employees	YP	986	0%	0

Groups and Shareholders

		30/06/2010		30/06/2009
Groups and Shareholders	ZR	0	-	0

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

		30/06/2010		30/06/2009	Sector Median 2010
Fixed Asset Financing		1,21	0%	1,21	1,28	-5,5%
Global Debt		70 days	-86,2%	507 days	97,50 days	-28,2%
Working Capital Fund overall net		41 days	-80,9%	215 days	24,50 days	67,3%
Financial independence		%	-	5240578,66%	213,30%	-
More ratios
Solvability		69,84%	13,7%	61,40%	30,27%	130,7%
Capacity debt futures		%	-	%	1031,04%	-
Coverage of current assets by net working capital overall		36,03%	7,6%	33,47%	28,36%	27,0%
General Liquidity		0,66	-		0,62	6,5%
Restricted Liquidity		0,75	-		0,86	-12,8%

Management or rotation

		30/06/2010		30/06/2009	Sector Median 2010
Need background in operating working capital		34 days	-20,9%	43 days	11,50 days	195,7%
Treasury		6 days	-96,4%	169 days	7 days	-14,3%
Inventory turnover of goods		46 days	-99,4%	7743 days	7 days	557,1%
Average length of credit granted to customers		40 days	-79,4%	194 days	38 days	5,3%
Average length of credit obtained suppliers		54 days	-76,4%	229 days	54 days	0%
More ratios
Inventory turnover of raw materials in industrial enterprises		74 days	-86,3%	541 days	39 days	89,7%
Inventory turnover of intermediate and finished products in the industrial enterprise		346 days	-	days	405 days	-14,6%
Rotation tangible assets		345,77%	-	%	375,64%	-8,0%

Profitability of the business

		30/06/2010		30/06/2009	Sector Median 2010
Margin trading		1,70%	5766,7%	-0,03%	1,40%	21,4%
Profitability of the business		8,10	-40,7%	13,65	4,23%	91,5%
Net profit		3,68%	0%	0%	1,47%	150,3%
More ratios
Growth rate of turnover (excluding VAT)		427,81%	-	%	4,57%	9261,3%
Rates integration		23,84%	-15,3%	28,13%	24,23%	-1,6%
Rate leasing furniture		0%	0%	0,16%	0%	0%
Work Factor		59,85%	29,7%	46,15%	74,58%	-19,8%
Weight interests		1,19	-97,2%	42,67%	0,34%	250,0%

Return on capital

		30/06/2010		30/06/2009	Sector Median 2010
Cash flow from the overall profitability		6,95%	125,4%	-27,41%	3,84%	81,0%
Rates of economic profitability		17%	240,0%	5%	16%	6,2%
Financial profitability		115352025%	9,5%	105335631%	161991%	71108,9%
Return on investment		10,28%	-39,5%	17%	8,46%	21,5%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	30/06/2010		30/06/2009	Sector Median 2010
Turnover	243 703 663	427,8%	46 172 975	1 833 123 €	13194,5%

Sales of goods	10 776 367	59434,7%	18 101
- Purchase of goods	6 812 033	31405,1%	21 622
+/- Stock of goods variation	-168 041	-1749,4%	10 188
Trading margin	4 132 375 €	30243,5%	-13 709 €	26 926 €	15247,2%
	1,70 % CA	5766,7%	-0,03 % CA	2,16 % CA	-21,3%

Sale of goods produced	232 927 296	404,7%	46 154 874
+/- Stocked production	-148 078	18,8%	-182 322
+ Self-constructed assets	0	0%	165 365
Period production	232 779 218 €	404,5%	46 137 917 €	512 111 €	45354,8%
	95,52 % CA	-4,4%	99,92 % CA	96,92 % CA	-1,4%

Trading margin	4 132 375	30243,5%	-13 709	26 926	15247,2%
+ Period Production	232 779 218	404,5%	46 137 917	512 111	45354,8%
- Purchase of raw materials	126 635 608	961,8%	11 926 931
+/- Change in stocks of raw materiels	-8 065 005	-3637,5%	-215 785
- Other external purchases and charges	60 235 810	181,1%	21 424 914
Added value	58 105 180 €	347,4%	12 988 148 €	442 551 €	13029,6%
	23,84 % CA	-15,3%	28,13 % CA	24,23 % CA	-1,6%

Added value	58 105 180 €	347,4%	12 988 148 €	442 551 €	13029,6%
+ Operating grants	5 854	0%	0
- Tax, duty and similar payments	3 602 500	423,1%	688 710
- Personal charges	34 773 787	480,1%	5 994 544
Gross operating surplus	19 734 747 €	213,0%	6 304 894 €	46 483 €	42355,8%
	8,10 % CA	-40,7%	13,65 % CA	4,23 % CA	91,5%

Gross operating surplus	19 734 747 €	213,0%	6 304 894 €	46 483 €	42355,8%
+ Release of reserves and provisions	1 723 400	172,7%	632 091
+ Other operating income	87 261	12491,8%	693
- Depreciation/Amortisation	9 560 842	390,8%	1 947 977
- Other charges	1 535 830	815,8%	167 708
Operating result	10 448 736 €	116,7%	4 821 993 €	23 863 €	43686,3%
	4,29 % CA	-58,9%	10,44 % CA	2,14 % CA	100,5%

Operating result	10 448 736 €	116,7%	4 821 993 €	23 863 €	43686,3%
+/- Result of joint-venture transferred from/to other partners	0	0%	0
+ Financial income	2 078 976	1478,0%	131 746
- Financial charges	2 909 737	-85,2%	19 701 282
Pre-tax result	9 617 975 €	165,2%	-14 747 543 €	20 258 €	47377,4%
	3,95 % CA	112,4%	-31,94 % CA	1,94 % CA	103,6%

Extraordinary income	1 480 666	-90,4%	15 353 468	4 799	30753,6%
- Extraordinary charges	2 296 972	277,6%	608 311
Extraordinary result	-816 306 €	-105,5%	14 745 157 €	0 €	0%
	-0,33 % CA	-101,0%	31,93 % CA	0 % CA	0%

Pre-tax result	9 617 975 €	165,2%	-14 747 543 €	20 258 €	47377,4%
Extraordinary result	-816 306 €	-105,5%	14 745 157 €	0 €	0%
- Employee profit sharing	0	0%	0
- Tax on profits	-172 818	-6002,3%	-2 832
Net result	8 974 487 €	2012116,8%	446 €	18 900 €	47384,1%
	3,68 % CA	0%	0,00 % CA	1,47 % CA	150,3%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

No social security and tax office preferential right to date

Trading to Date	06/30/2010	06/30/2009
	Turnover	243,703,663 €	46,172,975 €
	Gross Operating Surplus	8,10 % Turnover	13,65 % Turnover
	Shareholders’ equity	115,352,025 €	105,335,631 €
	Net result	8,974,487 €	444 €
	Employees	1 000 to 1 999 employees	-

Trends
Profitability
Liquidity
Net worth

Workforces

Workforce at address

Workforce unknown

Company workforce

1 000 to 1 999 employees

Commentary

The comments are arranged in decreasing order of importance

	The latest figures are too old
	The company has a parent
	The company is more than 15 years old
	Tangible fixed assets are up to 35 673 182 €
	The company has a share capital of 35 142 942 €, which is excellent
	The net result is up to 10 448 736 €, which is good
	The company has an activity with no specific increased risk
	The company is in financial debt of 244 080 €
	The financial result is negative on the period : -830 761 €

Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	12/12/2007
Status of Monitoring	No social security and tax office preferential right to date

event history

Status history

Date	Description
16/04/2012	Economically active

Recent publications in Gazettes

Publication date	Gazette Name	Description
17/08/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 624 - 308 448 851 RCS Paris. DELABLI. Forme : Société par actions simplifiée. Capital : 35142942.37 EUR. Activité : . Adresse du siège social : 77 boulevard Haussmann, 1 Er Étage, 75008 Paris. Commentaires : modification survenue sur le capital (augmentation).
06/07/2012	JAL	Modification of the share capital
Journal spécial des sociétés (Le) Date de décision : 21/06/2012 La société : 308448851 - DELABLI, 77 BD HAUSSMANN, 1ER ETAGE, 75008 PARIS 8 a subi une augmentation de son capital social désormais de 35 142 942 € Date d'effet : 21/06/2012
21/06/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1252 - 308 448 851 RCS Paris. DELABLI. Forme : Société par actions simplifiée. Capital : 33318126.37 EUR. Activité : . Adresse de l’établissement principal : 77 boulevard Haussmann, 1 Er Étage, 75008 Paris. Adresse du siège social : 77 boulevard Haussmann, 1 Er Étage, 75008 Paris. Commentaires : modification survenue sur l'adresse du siège.
06/06/2012	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1027 - 308 448 851 RCS Paris. DELABLI. Forme : Société par actions simplifiée. Capital : 33318126.37 EUR. Activité : . Adresse du siège social : 77 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur le capital (augmentation).
04/05/2012	JAL	Modification of the share capital
Journal spécial des sociétés (Le) Date de décision : 30/04/2012 La société : 308448851 - DELABLI, 77 BD HAUSSMANN, 75008 PARIS 8 a subi une augmentation de son capital social désormais de 33 318 126 € Date d'effet : 30/04/2012
29/04/2012	JAL	Head Office Transfer
Journal spécial des sociétés (Le) Date de décision : 10/04/2012 Transfert du siège social de la société 308448851 -  DELABLI Adresse du nouveau siège : 77 BOULEVARD HAUSSMANN, 75008 PARIS Ancienne localisation : 77 BD HAUSSMANN, 75008 PARIS 8 Date d'effet : 10/04/2012
31/01/2012	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8932 - 308448851 RCS. DELABLI. Forme : Société par actions simplifiée. Adresse : 77 boulevard Haussmann 75008 Paris. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2011.
28/02/2011	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 9687 - 308448851 RCS. DELABLI. Forme : Société par actions simplifiée. Adresse : 77 BD HAUSSMANN 75008 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2010.
12/10/2010	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1415 - 308 448 851 RCS Paris. DELABLI. Forme : Société par actions simplifiée. Capital : 33135644.77 EUR. Adresse de l’établissement principal : 77 boulevard Haussmann, 75008 Paris. Adresse du siège social : 77 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur l'adresse du siège.
27/07/2010	JAL	Head Office Transfer
LE JOURNAL SPECIAL DES SOCIETES Date de décision : 22/07/2010 Transfert du siège social de la société 308448851 -  DELABLI Adresse du nouveau siège : 77 BOULEVARD HAUSSMANN, 75008 PARIS Ancienne localisation : 87 BD HAUSSMANN, 75008 PARIS 8
22/03/2010	Bodacc C	Comptes annuels et rapports
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 8064 - 308448851 RCS. DELABLI. Forme : Société par actions simplifiée. Adresse : 87 BD HAUSSMANN 75008 PARIS. Commentaires : Comptes annuels et rapports de l'exercice clos le : 30/06/2009.
07/08/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1055 - 308 448 851 RCS Paris. DELABLI. Forme : Société par actions simplifiée. Capital : 33135644.77 EUR. Activité : La fabrication de confitures, confiseries et alimentation générale, la réalisation de toutes opérations financières ainsi que l'étude, la création, la mise en valeur, l'exploitation, la direction, la gérance, la régie, l'organisation, le financement, commerce de la marée, salaison. Adresse de l’établissement principal : 87 boulevard Haussmann, 75008 Paris. Adresse du siège social : 87 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur la dénomination et l'activité de l'établissement principal.
22/05/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 612 - 308 448 851 RCS Paris. BLINI. Forme : Société par actions simplifiée. Capital : 33135644.77 EUR. Adresse du siège social : 87 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur le capital (augmentation).
22/03/2009	Bodacc B	Modification et mutation diverse
75 - PARIS GREFFE DU TRIBUNAL DE COMMERCE DE PARIS 1740 - 308 448 851 RCS Paris. BLINI. Forme : Société par actions simplifiée. Capital : 15000000 EUR. Adresse du siège social : 87 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur le capital (diminution).
13/03/2007	Bodacc B	Modifications et mutations diverses
1973 - RCS Paris B 308 448 851. RC 86-B 12647. BLINI. Forme : S.A.S. Capital : 22 500 000 euros. Adresse du siège social : 87 boulevard Haussmann,, 75008 Commentaires : modification survenue sur l'administration. Administration : modification du président : GOVARE (Xavier). Président partant : PERRINEAU (Philippe).
26/05/2006	Bodacc B	Modifications et mutations diverses
1171 - RCS Paris B 308 448 851. RC 86-B 12647. BLINI. Forme : S.A.S. Capital : 22 500 000 euros. Adresse du siège social : 87 boulevard Haussmann,, 75008 Commentaires : modification survenue sur l'administration. Administration : commissaire aux comptes titulaire partant : GUILLAUME (Gilles). Commissaire aux comptes suppléant partant : NANQUETTE (Alexis). Commissaire aux comptes titulaire partant : GOFFIN (René). Commissaire aux comptes suppléant partant : CSUKA (Jean).
30/04/2005	Bodacc B	Modifications et mutations diverses
1680 - RCS Paris B 308 448 851. RC 86-B 12647. BLINI. Forme : S.A.S. Commentaires : modification survenue sur l'administration. Administration : président partant : LEVET (Eric, Jean, René, Charles). Nomination du président : PERRINEAU (Philippe).
21/01/2004	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 BLINI. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l'administration. Administration : modification du président : LEVET (Eric, Jean, René, Charles). Président du conseil de surveillance partant : CHEVALLIER (Jean- Paul, Marie, Pierre, Charles). Membre du directoire partant : COUSIN (Pierre, Eugène, André). Vice-président et membre du conseil de surveillance partant : GOVARE (Xavier, Daniel). Membre du conseil de surveillance partant : PERRINEAU (Philippe, François).
21/10/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 BLINI. Forme : S.A. à directoire et conseil de surveillance. Capital : 22 500 000 euros. Commentaires : modification survenue sur le capital (augmentation).
12/06/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 BLINI. Forme : S.A. à directoire et conseil de surveillance. Adresse du siège social : 87 boulevard Haussmann, 75008 Paris. Commentaires : modification survenue sur la dénomination, l'adresse du siège social, l'activité, l'adresse de l'établissement principal et l' administration. Administration : président du directoire partant : TOULEMONDE (Jean, Patrick). Nomination du président du directoire : LEVET ( Eric, Jean, René, Charles). Président du conseil de surveillance partant : LEVET (Gilbert). Nomination du président du conseil de surveillance : CHEVALLIER (Jean-Paul, Marie, Pierre, Charles). Membres du directoire partants : DESCHAMPS (Antoine, Henri, Charles, Marie) DESCHAMP (Stéphane) LE MALLIER, née DESCHAMPS (Charlotte- Marie, Thérèse). Nomination d'un membre du directoire : COUSIN (Pierre, Eugène, André). Membre du directoire partant : D'ALAYER DE COSTEMORE D'ARC LEVET ( Charles-Henri). Vice-président et membre du conseil de surveillance partant : DESCHAMPS, née LEVET (Marie, Amélie). Nomination d'un vice-président et membre du conseil de surveillance : GOVARE (Xavier, Daniel). Membre du conseil de surveillance partant : LEVET (Charles-Edouard). Nomination d'un membre du conseil de surveillance : PERRINEAU (Philippe, François) Etablissement principal: Activité : fabrication de confitures, de confiserie et d'alimentation générale réalisation de toutes opérations financières ainsi que l'étude, la création, la mise en valeur, l' exploitation, la direction, la gérance, la régie, l'organisation et le financement. Adresse : 87 boulevard Haussmann, 75008 Paris.
07/12/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 MAGICE. Forme : S.A. à directoire et conseil de surveillance. Commentaires : modification survenue sur l' administration. Administration : nomination d'un membre du directoire : LE MALLIER, née DESCHAMPS (Charlotte- Marie, Thérèse).
30/06/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 MAGICE. Forme : S.A. à directoire et conseil de surveillance. Commentaires : modification survenue sur l' administration. Administration : nomination d'un membre du directoire : DESCHAMP (Stéphane).
10/05/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 308448851 RC 86-B 12647 MAGICE. Forme : S.A. à directoire et conseil de surveillance. Capital : 1 500 000 euros. Commentaires : modification survenue sur la forme juridique, le capital (augmentation) et l' administration. Administration : modification du président du directoire TOULEMONDE (Jean, Patrick). Nomination d'un membre du directoire : D'ALAYER DE COSTEMORE D'ARC LEVET (Charles-Henri). Modification du président du conseil de surveillance : LEVET (Gilbert). Modification du vice-président et membre du conseil de surveillance : DESCHAMPS, née LEVET (Marie, Amélie). Modification d'un membre du conseil de surveillance : LEVET (Charles-Edouard).
12/01/1999	Bodacc B	Modifications et mutations diverses
RCS Paris B 308 448 851 RC 86-B 12647 MAGICE. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : commissaire aux comptes titulaire partant : ROCHET (Jean, Claude). Nomination du commissaire aux comptes titulaire : GOFFIN (René). Commissaire aux comptes suppléant partant : GABARD ( Xavier). Nomination du commissaire aux comptes suppléant : CSUKA (Jean).
21/06/1998	Bodacc B	Modifications et mutations diverses
RCS Paris B 308 448 851 RC 86-B 12647 MAGICE. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : nomination d'un administrateur : TOULEMONDE (Jean, Patrick).
18/01/1998	Bodacc B	Modifications et mutations diverses
RCS Paris B 308 448 851 RC 86-B 12647 MAGICE. Forme : S.A. Commentaires : modification survenue sur l' administration. Administration : administrateur partant : COMMON (Claude) . Commissaire aux comptes titulaire partant : SOCOVES. Modification du commissaire aux comptes titulaire : GUILLAUME (Gilles). Nomination du commissaire aux comptes suppléant : NANQUETTE (Alexis).

Company events history

Date	Description
17/08/2012	Bodacc B: Various editing or changing
01/08/2012	Minutes of general meeting of shareholders
01/08/2012	Updated articles of association
01/08/2012	Capital increase
21/06/2012	Bodacc B: Various editing or changing
21/06/2012	Other modification of Establishment
21/06/2012	Legal Gazette: Modification of the share capital
06/06/2012	Registered office transferred inside jurisdiction of the Commercial Court
06/06/2012	Updated articles of association
06/06/2012	Bodacc B: Various editing or changing
22/05/2012	Updated articles of association
22/05/2012	Minutes of general meeting of shareholders
22/05/2012	Capital increase
30/04/2012	Legal Gazette: Modification of the share capital
30/04/2012	Modification to Establishment Address or Identifier
29/04/2012	Legal Gazette: Head Office Transfer
19/04/2012	Audit or Management Report
16/04/2012	Transfer of Establishment
08/03/2012	Application and court order
03/02/2012	New ultimate parent
31/01/2012	Bodacc C : Deposit accounts notice
28/02/2011	Bodacc C : Deposit accounts notice
21/01/2011	New subsidiarie(s) detected
31/12/2010	Modification of Company Activity
31/12/2010	Update of Company Workforce
31/12/2010	Update of Company Activity
12/10/2010	Bodacc B: Various editing or changing
24/09/2010	Registered office transferred inside jurisdiction of the Commercial Court
24/09/2010	Updated articles of association
27/07/2010	Legal Gazette: Head Office Transfer
22/07/2010	Transfer of Establishment
22/07/2010	Update of Company Head Office Identifier
30/06/2010	New accounts available
22/03/2010	Bodacc C : Deposit accounts notice
10/09/2009	Private document
10/09/2009	Company formation
07/08/2009	Bodacc B: Various editing or changing
21/07/2009	Private document
21/07/2009	Statuts mis à jour
21/07/2009	PV d'Assemblée
21/07/2009	Updated articles of association
21/07/2009	Minutes of general meeting of shareholders
21/07/2009	Modification de l'objet social
21/07/2009	Change to corporate purpose
21/07/2009	Changement de dénomination sociale
21/07/2009	New company name
30/06/2009	New accounts available
22/05/2009	Bodacc B: Various editing or changing
06/05/2009	Private document
06/05/2009	Capital increase
06/05/2009	Augmentation de Capital
06/05/2009	Amendment
06/05/2009	Acte modificatif
06/05/2009	Updated articles of association
06/05/2009	Statuts mis à jour
06/05/2009	Minutes of general meeting of shareholders
25/03/2009	Private document
25/03/2009	Audit or Management Report
24/03/2009	Audit or Management Report
24/03/2009	Rapport des Commissaires ou du Gérant
22/03/2009	Bodacc B: Various editing or changing
05/03/2009	Réduction de Capital
05/03/2009	Updated articles of association
05/03/2009	Statuts mis à jour
05/03/2009	Capital reduction
05/03/2009	Private document
05/03/2009	PV d'Assemblée
05/03/2009	Minutes of general meeting of shareholders
13/01/2009	Minutes of general meeting of shareholders
13/01/2009	Private document
13/01/2009	Capital reduction
12/01/2009	Capital reduction
12/01/2009	Réduction de Capital
01/12/2008	Application and court order
28/11/2008	Application and court order
28/11/2008	Requête et Ordonnance
27/11/2008	Payment incident closed
11/08/2008	Payment incident detected
12/12/2007	Collection of preferential rights activated for this company
13/02/2007	Minutes of general meeting of shareholders
13/02/2007	Changement de Président (PDG, PCA)
13/02/2007	Appointment/resignation of company officers
13/02/2007	Private document
18/01/2006	Appointment/resignation of company officers
18/01/2006	Nomination/démission des organes de gestion
18/01/2006	Changement de Commissaire aux Comptes
18/01/2006	PV d'Assemblée
18/01/2006	Private document
18/01/2006	Acte sous seing privé
18/01/2006	Minutes of general meeting of shareholders
26/12/2005	New auditor
26/12/2005	Changement de Commissaire aux Comptes
26/12/2005	Updated articles of association
26/12/2005	Statuts mis à jour
26/12/2005	PV d'Assemblée
26/12/2005	Minutes of general meeting of shareholders
26/12/2005	Nomination/démission des organes de gestion
26/12/2005	Appointment/resignation of company officers
26/12/2005	Private document
26/12/2005	Acte sous seing privé
17/03/2005	Appointment/resignation of company officers
17/03/2005	Private document
17/03/2005	Minutes of general meeting of shareholders
17/03/2005	PV d'Assemblée
17/03/2005	Changement de Président (PDG, PCA)
17/03/2005	Nomination/démission des organes de gestion
17/03/2005	Acte sous seing privé
09/01/2004	Changement de Forme Juridique avec changement de catégorie
09/01/2004	PV d'Assemblée
09/01/2004	Changement de Forme Juridique sans changement de catégorie
09/01/2004	Modification de l'objet social
09/01/2004	Nomination/démission des organes de gestion
09/01/2004	Statuts mis à jour
09/01/2004	Acte sous seing privé
20/11/2003	Acte sous seing privé
20/11/2003	Rapport des Commissaires ou du Gérant
09/10/2003	Statuts mis à jour
09/10/2003	Augmentation de Capital
09/10/2003	Acte sous seing privé
09/10/2003	PV d'Assemblée
28/05/2003	Statuts mis à jour
28/05/2003	Changement de date de clôture
28/05/2003	Changement de Président (PDG, PCA)
28/05/2003	Nomination/démission des organes de gestion
28/05/2003	Changement de dénomination sociale
28/05/2003	Transfert du Siège dans le ressort du Tribunal de Commerce
28/05/2003	Modification de l'objet social
28/05/2003	PV d'Assemblée
28/05/2003	Acte modificatif
28/05/2003	Acte sous seing privé
16/05/2003	Nomination/démission des organes de gestion
16/05/2003	Fusion
16/05/2003	Déclaration de conformité
16/05/2003	Acte modificatif
16/05/2003	Expédition acte notarié
16/05/2003	PV d'Assemblée
22/04/2003	Rapport des Commissaires ou du Gérant
22/04/2003	Acte sous seing privé
31/03/2003	Acte sous seing privé
31/03/2003	Projet de Fusion
10/03/2003	Requête et Ordonnance
26/11/2001	PV du Conseil d'Administration
26/11/2001	Nomination/démission des organes de gestion
26/11/2001	PV d'Assemblée
26/11/2001	Acte sous seing privé
14/06/2001	Nomination/démission des organes de gestion
14/06/2001	Acte sous seing privé
14/06/2001	PV d'Assemblée
24/04/2001	Statuts mis à jour
24/04/2001	Augmentation de Capital
24/04/2001	Conversion du Capital Social en Euros
24/04/2001	Changement de Président (PDG, PCA)
24/04/2001	Acte sous seing privé
24/04/2001	Nomination/démission des organes de gestion
24/04/2001	PV d'Assemblée
23/12/1998	Acte sous seing privé
23/12/1998	PV d'Assemblée
23/12/1998	Nomination/démission des organes de gestion
23/12/1998	Changement de Commissaire aux Comptes
09/06/1998	Acte sous seing privé
09/06/1998	Modification du Conseil d'Administration
09/06/1998	PV d'Assemblée
09/06/1998	Nomination/démission des organes de gestion
02/01/1998	Statuts mis à jour
02/01/1998	Changement de Commissaire aux Comptes
02/01/1998	Acte sous seing privé
02/01/1998	PV d'Assemblée
02/01/1998	Modification du Conseil d'Administration
02/01/1998	Nomination/démission des organes de gestion
04/10/1994	Changement de Commissaire aux Comptes
04/10/1994	Acte modificatif
04/10/1994	PV d'Assemblée

Establishment events history

Date	Description
21/06/2012	Modification of Head office
30/04/2012	Update of Establishment Workforce
30/04/2012	Update of Establishment Address
30/04/2012	Modification of Head office Identification
16/04/2012	Update of Establishment Activity
16/04/2012	Modification of Head office (after transfer)
07/04/2012	Update Limit
28/06/2011	Update of phone numbers
17/01/2011	Update Rating
31/12/2010	Modification of Head office
22/07/2010	Formation of Head office (after transfer)

NOTES & COMMENTS

Na

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.25
UK Pound	1	Rs.87.00
Euro	1	Rs.69.83

INFORMATION DETAILS

Report Prepared by :

PRL

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.