MIRA INFORM REPORT

 

 

Report Date :

24.09.2012

 

IDENTIFICATION DETAILS

 

Name :

INTERFACE EUROPE LTD.

 

Registered Office :

 

Shelf Mills Halifax, HX3 7PA

 

 

Country :

United Kingdom

 

 

Financials (as on) :

02.01.2011

 

 

Date of Incorporation :

27.01.1936

 

 

Com. Reg. No.:

00309779

 

 

Legal Form :

Private Subsidiary

 

 

Line of Business :

Manufacture and distribution of interior floor coverings.

 

 

No. of Employees :

361

 

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 :

Slow but correct

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

Company name and address

 

Top of Form

Bottom of Form

Top of Form

 

Interface Europe Ltd.

                                                                                                                                                  

 

Shelf Mills

 

 

Halifax, HX3 7PA

United Kingdom

(Trading Address)
Registered Address

Map

 

Tel:

01274690690

Fax:

01274694095

 

www.interface.com

 

Employees:

361

Company Type:

Private Subsidiary

Corporate Family:

16 Companies

Ultimate Parent:

Interface Europe Inc.

 

 

Quoted Status:

Non-quoted Company

Incorporation Date:

27-Jan-1936

Auditor:

Bdo LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

02-Jan-2011

Reporting Currency:

British Pound Sterling

Annual Sales:

151.7  1

Net Income:

4.0

Total Assets:

119.4

                                      

Business Description       

 

Manufacture and distribution of interior floor coverings.

 

   Industry               

 

Industry

Textiles - Non Apparel

ANZSIC 2006:

1331 - Textile Floor Covering Manufacturing

NACE 2002:

1751 - Manufacture of carpets and rugs

NAICS 2002:

314110 - Carpet and Rug Mills

UK SIC 2003:

1751 - Manufacture of carpets and rugs

UK SIC 2007:

1393 - Manufacture of carpets and rugs

US SIC 1987:

2273 - Carpets and Rugs

                      

Key Executives            

   

 

Name

Title

Lindsey Kenneth Parnell

Chief Executive Officer & President, Interface Europe Division

Jan Hasselman

Senior Vice President, Human Resources & Finance

Claire Baillet

Senior Vice President, Marketing - EMEA

Simon Carlton

Company Secretary

Andrew Dunne

IT Manager

     

Financial Summary                                                                                                             

 

FYE: 2-Jan-2011

USD (mil)

Key Figures

 

Current Assets

97.76

Fixed Assets

21.67

Total Liabilities

26.43

Net Worth

81.44

 

Key Ratios

 

Current Ratio

3.70

Acid Test

3.67

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6476797
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123

 

 

Corporate Overview

 

Location
Shelf Mills
Halifax, HX3 7PA
West Yorkshire County
United Kingdom

 

Tel:

01274690690

Fax:

01274694095

 

www.interface.com

Sales GBP(mil):

98.2

Assets GBP(mil):

76.3

Employees:

361

Fiscal Year End:

02-Jan-2011

 

Industry:

Textiles - Non Apparel

Registered Address:
Shelf Mills
Shelf
Nr Halifax
Halifax, HX3 7PA
United Kingdom

 

Incorporation Date:

27-Jan-1936

Company Type:

Private Subsidiary

Quoted Status:

Not Quoted

Registered No.(UK):

00309779

 

Chief Executive Officer & President, Interface Europe Division:

Lindsey Kenneth Parnell

Contents

Industry Codes

Business Description

Brand/Trade Names

Financial Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

1331

-

Textile Floor Covering Manufacturing

 

NACE 2002 Codes:

1751

-

Manufacture of carpets and rugs

 

NAICS 2002 Codes:

314110

-

Carpet and Rug Mills

 

US SIC 1987:

2273

-

Carpets and Rugs

 

UK SIC 2003:

1751

-

Manufacture of carpets and rugs

 

UK SIC 2007:

1393

-

Manufacture of carpets and rugs

 

 

Business Description

Manufacture and distribution of interior floor coverings.

 

 

More Business Descriptions

Manufacture and wholesale trade in carpet tiles and carpets

 

 

 

 

 

 

 

Brand/Trade Names

InterfaceFLOR

 

 

 

 

Financial Data

 

Financials in:

GBP(mil)

 

Revenue:

98.2

Net Income:

2.6

Assets:

76.3

Current Assets:

62.4

 

Fixed Assets:

13.8

 

Long Term Debt:

0.0

 

Total Liabilities:

16.9

 

Issued Capital:

34.2

 

Working Capital:

45.6

 

Net Worth:

52.0

 

 

 

Date of Financial Data:

02-Jan-2011

 

1 Year Growth

11.7%

NA

1.3%

 

 

Key Corporate Relationships

Auditor:

Bdo LLP

Bank:

National Westminster Bank PLC

 

Auditor:

Bdo LLP, BDO LLP

 

 

 

GBP(mil)

Audit Fees:

0.1

Non Audit Fees:

0.1

Audit Fiscal Year:

01-02-2011

 

 

 

 

 

Corporate Structure News

 

Interface Europe Ltd.
Total Corporate Family Members: 16

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Interface Europe Inc.

Parent

 

 

 

 

 

Interface Europe Ltd.

Subsidiary

Halifax

United Kingdom

Textiles - Non Apparel

151.7

361

Shelf Investments Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

400

Interface UK Manufacturing Ltd.

Subsidiary

Halifax

United Kingdom

Textiles - Non Apparel

26.9

219

Interface Floor Europe Ltd.

UK Branch/Trading address

Craigavon

United Kingdom

Textiles - Non Apparel

151.7

170

Interface Administration Services Ltd.

Subsidiary

Halifax

United Kingdom

Business Services

13.2

66

Interface Europe Ltd.

UK Branch/Trading address

London

United Kingdom

Textiles - Non Apparel

151.7

6

Re:Source Technologies Uk, Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Carpets International Overseas Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

T. F. Firth & Sons Ltd.

Subsidiary

Halifax

United Kingdom

Commercial Banks

 

 

Firth Carpets Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Carpets From London Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Guilford Of Maine (U. K. ) Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Renovisions (Uk) Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Interface Europe Share Participation Trustees Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

Interface Mea Ltd.

Subsidiary

Halifax

United Kingdom

Nonclassifiable Industries

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

Simon Carlton

 

Company Secretary

Director/Board Member

Jan Hasselman

 

Senior Vice President, Human Resources & Finance

Director/Board Member

Age: 57

 

Stephen Martin

 

Director

Director/Board Member

 

Lindsey Kenneth Parnell

 

Chief Executive Officer & President, Interface Europe Division

Director/Board Member

 

Age: 55

 

 

Executives

 

Name

Title

Function

Lindsey Kenneth Parnell

 

Chief Executive Officer & President, Interface Europe Division

Chief Executive Officer

Age: 55

 

Ton Van Keken

 

Senior Vice President, Operations

Operations Executive

 

Melanie Peel

 

Payroll Administrator

Administration Executive

Simon Carlton

 

Secretary

Company Secretary

 

Age: 50

 

Simon Carlton

 

Company Secretary

Company Secretary

 

Jan Hasselman

 

Senior Vice President, Human Resources & Finance

Finance Executive

 

Age: 57

 

David Handscombe

 

Controller, UK

Controller

 

Barry Higgins

 

HR Manager

Human Resources Executive

 

Louise Monk

 

HR Manager

Human Resources Executive

 

Rob Boogaard

 

Senior Vice President, Sales - EMEA

Sales Executive

 

Steve Hamilton

 

Sales & Marketing Director, UK & Ireland

Sales Executive

 

David Nicholls

 

Sales & Marketing Director, UK & Ireland

Sales Executive

 

 

Louise Swift

 

Public Sector Sales Director, InterfaceFlor

Sales Executive

 

Claire Baillet

 

Senior Vice President, Marketing - EMEA

Marketing Executive

 

Karen Warner

 

Marketing Director

Marketing Executive

 

Andrew Dunne

 

IT Manager

Information Executive

 

Nigel Stansfield

 

Senior Vice President, Product & Innovation

Product Management Executive

 

Patrick Riley

 

Vice President, China - InterfaceFLOR Asia Pacific

Other

 

 

Directors and Shareholders Report

 

Annual Return Date: 02 Mar 2012
Total Issued Capital (GBP 000): 34,166

 

Individual Directors

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Simon
Carlton

Current

04 Jun 1962

32 Rakehill Road, Scholes,
Leeds, West Yorkshire LS15 4AJ

01 Aug 2008

NA

Current:17
Previous:11
Disqualifications:0

 

Lindsey Kenneth
Parnell

Current

11 Jul 1957

1 St Johns Croft,
Wakefield, West Yorkshire WF1 2RQ

31 Oct 2002

NA

Current:10
Previous:1
Disqualifications:0

 

Jan
Hasselman

Current

19 Feb 1955

Shelf Mills Shelf,
Halifax, West Yorkshire HX3 7PA

17 Feb 1995

NA

Current:10
Previous:0
Disqualifications:0

 

John Leslie
Partridge

Previous

18 Jun 1952

88 The Avenue, Harewood,
Leeds, West Yorkshire LS17 9LD

NA

12 Nov 1998

Current:3
Previous:8
Disqualifications:0

 

Robert Alan
Coombs

Previous

23 Nov 1958

Lamsey House, Little Gadesden,
Berkhamsted, Hertfordshire HP4 1QS

20 Nov 2000

08 Nov 2002

Current:0
Previous:3
Disqualifications:0

 

Graham Douglas
Mallinson

Previous

04 May 1936

189 Lower Wyke Lane, Wyke,
Bradford, West Yorkshire BD12 9AH

02 Apr 1991

01 Dec 1995

Current:1
Previous:3
Disqualifications:0

 

Ray Christie
Anderson

Previous

28 Jul 1934

3131 Station Drive, Atlanta Georgia

02 Apr 1991

19 Dec 1996

Current:0
Previous:1
Disqualifications:0

 

David Graeme
Thomas

Previous

22 Oct 1925

Bubblewell House, Minch In Hampton,
Stroud, Gloucestershire GL6 9AT

02 Apr 1991

19 Apr 2006

Current:0
Previous:4
Disqualifications:0

 

Daniel Thomas
Hendrix

Previous

06 Nov 1954

3950 Ranier Drive, Atlanta

19 Dec 1996

07 Oct 2011

Current:1
Previous:11
Disqualifications:0

 

Alan Trevor
Hill

Previous

07 Nov 1947

1 Woodhall Park Avenue, Stanningley,
Pudsey, West Yorkshire LS28 7HF

02 Apr 1991

17 Feb 1995

Current:2
Previous:8
Disqualifications:0

 

Johannes Lambertus
Van Beers

Previous

12 Feb 1951

Reeenspoor 14,
3871 Jp Hoevelaken

17 Feb 1995

01 Feb 2003

Current:0
Previous:5
Disqualifications:0

 

William Gillespie
Mc Whirter

Previous

15 Apr 1944

6 Church Lane, Granborough,
Buckingham, Buckinghamshire MK18 3NN

02 Apr 1991

15 Aug 1995

Current:0
Previous:1
Disqualifications:0

 

Donald Edward
Russell

Previous

10 Jan 1938

Emmalaan 2,
Driebergen

NA

15 Aug 1995

Current:0
Previous:2
Disqualifications:0

 

Stephen
Martin

Previous

02 Dec 1955

Shelf Mills Shelf,
Halifax, West Yorkshire HX3 7PA

01 Aug 2008

13 Jul 2012

Current:0
Previous:2
Disqualifications:0

 

John Henry
Walker

Previous

22 Sep 1944

Rocketer, Rocky Lane,
Aylesbury, Buckinghamshire HP22 6PR

NA

09 Feb 2001

Current:6
Previous:6
Disqualifications:0

 

James Philip
Walker

Previous

22 Aug 1940

Orchard House, Hardwick,
Aylesbury, Buckinghamshire HP22 4DZ

01 Jul 1993

05 Dec 2000

Current:1
Previous:5
Disqualifications:0

 

Raymond Scott
Willoch

Previous

13 Jun 1958

4471 Belvedere Place,
Marietta, Georgia 30067

19 Dec 1996

07 Oct 2011

Current:1
Previous:11
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Directors

 

There are no corporate directors for this company.

 

 

Individual Secretaries

 

Name

Status

DOB

Filed Address

Appointment Date

Resignation Date

Summary of Directorships

 

Simon
Carlton

Current

04 Jun 1962

32 Rakehill Road, Scholes,
Leeds, West Yorkshire LS15 4AJ

08 Jun 1998

NA

Current:17
Previous:11
Disqualifications:0

 

Albert George
Stockwell

Previous

13 Jul 1938

14 Penrith Way,
Aylesbury, Buckinghamshire HP21 7JZ

20 Feb 1995

08 Jun 1998

Current:0
Previous:7
Disqualifications:0

 

Alan Trevor
Hill

Previous

07 Nov 1947

1 Woodhall Park Avenue, Stanningley,
Pudsey, West Yorkshire LS28 7HF

02 Apr 1991

17 Feb 1995

Current:2
Previous:8
Disqualifications:0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Secretaries

 

There are no corporate secretaries for this company.

 

 

Individual Shareholders

 

Name

Share Details
(As Reported)

Share Type

# of Shares

Share Price (GBP)

Share Value (GBP)

% of Total Shares

Interface Europe Holding BV

63579407 Ordinary GBP 0.50

Ordinary

63,579,407

0.50

31,789,703.50

72.79

Interface Europe Holding BV

23766666 A Ordinary GBP 0.10

A Ordinary

23,766,666

0.10

2,376,666.60

27.21

Interface Inc

1 A Ordinary GBP 0.10

A Ordinary

1

0.10

0.10

<0.01

 

 

 

 

 

 

 

 

Corporate Shareholders

 

There are no corporate shareholders for this company.

 

 

 

Annual Profit & Loss

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

02-Jan-2011

03-Jan-2010

28-Dec-2008

30-Dec-2007

31-Dec-2006

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.64768

0.641508

0.544019

0.499901

0.543438

Consolidated

Yes

Yes

Yes

Yes

Yes

 

 

 

 

 

 

Turnover (UK)

-

-

-

-

193.4

Turnover (Exports)

-

-

-

-

0.0

Total Turnover

151.7

137.0

199.5

222.4

193.4

Cost of Sales

117.4

104.5

143.2

152.4

138.9

Gross Profit

34.3

32.6

56.3

70.0

54.6

Depreciation

2.1

2.4

2.5

3.3

2.9

Other Expenses

28.8

26.2

31.7

41.9

38.1

Operating Profit

-

-

-

28.1

-

Other Income

0.7

0.6

1.7

0.8

0.8

Interest Paid

0.0

0.9

0.7

0.5

1.6

Exceptional Income

0.3

0.0

-0.1

0.0

-14.8

Discontinued Operations

-

-

-

0.0

1.3

Profit Before Taxes

6.4

6.1

25.5

28.3

0.8

Tax Payable / Credit

2.4

2.4

8.0

7.7

-2.5

Extraordinary Items/Debits

0.0

0.0

0.0

0.0

0.0

Dividends

0.0

0.0

5.3

0.0

0.0

Profit After Taxes

4.0

3.7

12.1

20.6

3.3

Minority Interests (Profit & Loss)

0.0

0.0

0.0

0.0

0.0

Audit Fees

0.1

0.1

0.1

0.2

0.0

Non Audit Fees

0.2

0.2

0.3

0.4

0.4

Number of Employees

361

406

436

419

468

Wages

-

20.0

27.3

27.7

24.2

Social Security Costs

-

1.8

3.0

3.1

2.6

Pensions

-

-

0.0

-

-

Other Pension Costs

-

4.5

3.2

3.6

3.3

Employees Remuneration

27.0

26.2

33.5

34.4

30.1

Directors Emoluments

-

-

0.5

-

-

Other Costs

-

-

0.0

-

-

Directors Remuneration

1.4

0.6

0.6

1.2

0.9

Highest Paid Director

0.8

0.4

0.5

1.0

0.9

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

02-Jan-2011

03-Jan-2010

28-Dec-2008

30-Dec-2007

31-Dec-2006

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.638712

0.619253

0.679925

0.501781

0.510947

Consolidated

Yes

Yes

Yes

Yes

Yes

 

 

 

 

 

 

Total Tangible Fixed Assets

18.9

21.4

21.3

30.8

30.2

Intangible Assets

2.7

4.0

4.6

7.7

8.9

Investments

0.0

0.0

0.0

0.0

0.0

Total Fixed Assets

21.7

25.4

26.0

38.5

39.2

Stocks

0.0

11.5

11.2

16.7

15.6

Work in Progress

0.8

1.1

1.8

1.6

0.9

Total Stocks Work In Progress

0.8

12.6

13.0

18.3

16.5

Trade Debtors

22.6

19.1

25.1

37.2

28.7

Inter-Company Debtors

66.3

47.1

32.9

28.7

17.5

Other Debtors

2.6

2.4

3.4

6.5

10.5

Total Debtors

91.5

68.6

61.4

72.5

56.7

Cash and Equivalents

5.5

4.4

5.6

7.2

6.9

Other Current Assets

0.0

0.0

0.0

0.0

0.0

Total Current Assets

97.8

85.5

80.0

97.9

80.1

Total Assets

119.4

110.9

106.0

136.4

119.3

Trade Creditors

8.1

5.5

7.5

9.6

8.0

Bank Overdraft

0.0

0.0

0.0

0.0

0.0

Inter-Company Creditors

6.6

3.7

4.9

10.4

14.6

Director Loans (Current Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Finance Lease (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Finance Lease/Hire Purchase (Current Liability)

0.0

0.0

0.0

0.0

0.0

Total Short Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Current Liability)

8.3

5.0

4.5

11.2

9.6

Social Security/VAT

3.1

1.1

1.4

0.8

2.4

Corporation Tax

0.3

1.0

3.1

1.7

0.4

Dividends (Current Liability)

0.0

0.0

0.0

0.0

0.0

Other Current Liabilities

0.0

0.0

0.0

0.0

0.0

Total Current Liabilities

26.4

16.2

21.3

33.6

34.9

Group Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Director Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Hire Purchase (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Leasing (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Total Hire Purchase Loans (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Loans

0.0

0.0

0.0

0.0

0.0

Accruals/Deferred Income (Long Term Liability)

0.0

0.0

0.0

0.0

0.0

Other Long Term Liabilities

0.0

0.0

0.0

10.6

0.0

Total Long Term Liabilities

0.0

0.0

0.0

10.6

0.0

Deferred Taxation

0.0

0.0

-

0.5

0.0

Other Provisions

8.8

12.4

9.5

0.0

22.6

Total Provisions

8.8

12.4

9.5

0.5

22.6

Issued Capital

53.5

55.2

50.2

68.1

66.9

Share Premium Accounts

8.3

8.5

7.8

10.5

10.3

Revaluation Reserve

0.0

0.0

0.0

0.0

0.0

Retained Earnings

22.4

18.6

17.1

13.1

-15.4

Other Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interests (Balance Sheet)

0.0

0.0

0.0

0.0

0.0

Total Shareholders Funds

84.2

82.3

75.1

91.7

61.8

Net Worth

81.4

78.3

70.5

84.0

52.8

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

02-Jan-2011

03-Jan-2010

28-Dec-2008

30-Dec-2007

31-Dec-2006

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate (Period Average)

0.64768

0.641508

0.544019

0.499901

0.543438

Consolidated

Yes

Yes

Yes

Yes

Yes

 

 

 

 

 

 

Net Cash Flow From Operating Activities

2.1

1.9

8.8

2.9

-4.2

Net Cash Flow from ROI and Servicing of Finance

0.6

0.6

1.7

0.7

-0.6

Taxation

-1.5

-3.7

-3.9

-0.1

-0.1

Capital Expenditures

0.0

-0.5

-0.8

-3.3

-1.8

Acquisitions and Disposals

0.0

0.0

0.0

0.0

8.7

Paid Up Equity

0.0

0.0

-5.3

0.0

0.0

Management of Liquid Resources

0.0

0.0

0.0

0.0

0.0

Net Cash Flow From Financing

0.0

0.0

0.0

0.0

0.0

Increase in Cash

1.2

-1.7

0.4

0.1

2.0

 

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

 

 

02-Jan-2011

03-Jan-2010

28-Dec-2008

30-Dec-2007

31-Dec-2006

Period Length

52 Weeks

53 Weeks

52 Weeks

52 Weeks

52 Weeks

Filed Currency

GBP

GBP

GBP

GBP

GBP

Exchange Rate

0.638712

0.619253

0.679925

0.501781

0.510947

Consolidated

Yes

Yes

Yes

Yes

Yes

 

 

 

 

 

 

Current Ratio

3.70

5.28

3.75

2.91

2.30

Liquidity Ratio

3.67

4.50

3.14

2.37

1.82

Stock Turnover

202.95

11.06

12.25

12.11

12.50

Credit Period (Days)

53.66

49.94

57.33

61.26

50.92

Working Capital by Sales

46.38%

49.76%

36.76%

29.03%

21.98%

Trade Credit by Debtors

0.36

0.29

0.30

0.26

0.28

Return on Capital

6.97%

6.59%

24.11%

27.47%

1.01%

Return on Assets

5.43%

5.63%

19.25%

20.70%

0.71%

Profit Margin

4.21%

4.48%

12.78%

12.75%

0.41%

Return on Shareholders Funds

7.70%

7.59%

27.16%

30.80%

1.38%

Borrowing Ratio

8.13%

4.69%

6.96%

12.33%

27.61%

Equity Gearing

70.49%

74.18%

70.89%

67.20%

51.77%

Interest Coverage

295.71

6.99

37.00

52.09

0.49

Sales by Tangible Assets

8.13

6.50

7.49

7.19

6.81

Average Remuneration per Employee

0.1

0.1

0.1

0.1

0.1

Profit per Employee

0.0

0.0

0.0

0.1

0.0

Sales per Employee

0.4

0.3

0.4

0.5

0.4

Capital Employed per Employee

0.3

0.2

0.2

0.2

0.2

Tangible Assets per Employee

0.1

0.1

0.0

0.1

0.1

Total Assets per Employee

0.3

0.3

0.2

0.3

0.3

Employee Remuneration by Sales

17.83%

19.15%

16.81%

15.48%

15.55%

Creditor Days (Cost of Sales Based)

24.77

18.82

23.85

23.08

19.70

Creditor Days (Sales Based)

19.17

14.35

17.12

15.82

14.15

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.90

UK Pound

1

Rs.87.60

Euro

1

Rs.70.01

 

 

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.