MIRA INFORM REPORT

Report Date :

11.05.2013

IDENTIFICATION DETAILS

Name :	COMPAGNIE RIZICOLE ANTILLES FRANCAISES CRAF
Registered Office :	Zi De Jarry, Rue De L Industrie, 97122 Baie Mahault
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	January 1978
Com. Reg. No.:	RCS Point-a-Pitre B 313 284 267
Legal Form :	Public limited company with board of directors
Line of Business :	Other activities of grain mill
No. of Employees :	20 to 49 employees

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 – March 31^st 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
France	A2	A2

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

france ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 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, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures 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. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating pro-growth economic policies, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government's attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

company summary

		EUR VAT Number	FR25313284267
Activity (APE)	Autres activités du travail des grains (1061B) (Other activities of grain mill (1061B))	Legal form	Public limited company with board of directors
Phone	05 90 26 69 57	RCS Registration	RCS Point-a-Pitre B 313 284 267
Fax	05 96 56 89 80	Share capital	1,054,000 Euros
Address	COMPAGNIE RIZICOLE ANTILLES FRANCAISES CRAF ZI DE JARRY RUE DE L INDUSTRIE 97122 BAIE MAHAULT	Incorporated Date
Nationality	France	Status	Economically active

Trading to Date	12/31/2010	12/31/2008	12/31/2007
Turnover	131,136 €	120,480 €	114,720 €
Gross Operating Surplus	92,26 % Turnover	88,36 % Turnover	75,84 % Turnover
Shareholders’ equity	2,028,869 €	1,851,128 €	1,743,793 €
Net result	143,132 €	107,335 €	250,962 €
Employees	Workforce unknown	-	-

Company details

Activity (APE)	Autres activités du travail des grains (1061B)
RCS Registration	RCS Point-a-Pitre B 313 284 267	Share capital	1,054,000 Euros
Registration Court	Point-a-Pitre (97)	Legal form	Public limited company with board of directors
Court Registry Number	78 B 00083	EUR VAT Number	FR25313284267
Incorporation Date		Formation Date	01/1978
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Acronym	CRAF
Activity (APE)	Autres activités du travail des grains (1061B)	Business Pages FT®
Postal Address	COMPAGNIE RIZICOLE ANTILLES FRANCAISES CRAF ZI DE JARRY RUE DE L INDUSTRIE 97122 BAIE MAHAULT	Trading Address	RUE DE L INDUSTRIE 97122 BAIE MAHAULT
Telephone	05 90 26 69 57
Fax	05 96 56 89 80

Type	Head office (one site company)	Status	Economically active
Formation Date	01/1978	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date	06/2003	Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department		Region	Guadeloupe
District		Area
City	BAIE MAHAULT	Size of urban area

Other establishments

Branches	1 branch entities in this company
Head office	> COMPAGNIE RIZICOLE ANTILLES FRANCAISES <<<  - Autres activités du travail des grains (1061B)  in BAIE MAHAULT  (97122)
Secondary establishments	>  COMPAGNIE RIZICOLE ANTILLES FRANCAISES  - Autres activités de travail des grains (156B)  in DUCOS  (97224)

Regionality

Mono-activity status

Workforces

Workforce at address

20 to 49 employees

Company workforce

Workforce unknown

DIRECTORS/MANAGEMENT

Current Directors

4

directors

Shareholder(s)

Name	SIACOM
Name of representative	M VAN ARENDONK GERARD
Manager position	Administrateur	Date of birth
Place of birth
Type	Moral person	Name at birth

Name	BELLONNIE ET BOURDILLON SUCCESSEURS
Name of representative	M THIEBLIN XAVIER
Manager position	Administrateur	Date of birth	01/11/1942
Place of birth	SAINTE MARIE REUNION
Type	Moral person	Name at birth

Name	M. BOURDILLON JEAN-PIERRE
Manager position	Président du conseil d'administration, Administrateur	Date of birth	29/10/1936
Place of birth	MARSEILLE
Type	Individual	Name at birth

Name	M. BOURDILLON XAVIER
Manager position	Directeur général	Date of birth
Place of birth
Type	Individual	Name at birth

Previous Directors

No data about previous directors is available for this company

NEGATIVE INFORMATION

judgements

Collective procedures

SHARE & SHARE CAPITAL INFORMATION

Share capital

1,054,000 Euros

PAYMENT INFORMATION

Payment Information Summary - Trade Payment Data
	Total number of Invoices available	3
	Total number of Invoices paid within or up to 30 days after the due date	3
	Total number of Invoices paid more than 30 days after the due date	0
	Total number of Invoices currently outstanding where the due date has not yet been reached	0
	Total number of Invoices currently outstanding beyond the due date	0

GROUP STRUCTURE & AFFILIATED COMPANIES

Linkages

No linked companies

FINANCIAL INFORMATION

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Deposit date	22/11/2011	26/05/2010	-
Activity Code	1061B	1061B	1061B
Employees	0	0	0

Active account

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1 744 193	-0,7%	1 755 947	-0,3%	1 761 825	533 948	226,7%
- Intangible assets	0	0%	0	0%	0	2 338	0%
- Tangible assets	144 193	-7,5%	155 947	-3,6%	161 825	333 554	-56,8%
- Financial assets	1 600 000	0%	1 600 000	0%	1 600 000	7 500	21233,3%
Net current assets	370 482	245,6%	107 190	-31,9%	157 324	2 237 755	-83,4%
- Stocks	0	0%	0	0%	0	504 366	0%
- Advanced payments	0	245,6%	0	0%	0	0	0%
- Receivables	181 941	169,8%	67 426	33,7%	50 413	931 471	-80,5%
- Securities and cash	188 541	374,1%	39 764	-62,8%	106 911	104 255	80,8%
- Prepaid expenses	-	-	-	-	-	2 319	-
Accounts of regularization	0	0%	0	0%	0	0	0%
Total Assets	2 114 674	13,5%	1 863 138	-2,9%	1 919 149	3 321 173	-36,3%

Passive Account

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Shareholders' equity	2 028 869	9,6%	1 851 128	6,2%	1 743 793	1 151 553	76,2%
Share capital	1 054 000	0%	1 054 000	0%	1 054 000	160 000	558,8%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	0	0%	5 600	0%	5 600	0	0%
Liabilities	85 805	1238,6%	6 410	-96,2%	169 755	1 609 569	-94,7%
- Financial liabilities	0	0%	0	0%	147 283	332 661	0%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	2 570	17,0%	2 196	-89,3%	20 444	541 052	-99,5%
- Tax and social liabilities	83 235	2172,9%	3 662	80,6%	2 028	96 603	-13,8%
- Other debts and fixed assets liabilities	0	0%	552	0%	0	28 405	0%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	2 114 674	13,5%	1 863 138	-2,9%	1 919 149	3 321 172	-36,3%

Results

Annual Accounts	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Sales of Goods	131 136	8,8%	120 480	5,0%	114 720	4 709 603	-97,2%
Net turnover	131 136	8,8%	120 480	5,0%	114 720	4 741 499	-97,2%
- of which net export turnover	0	0%	0	0%	0	10 201	0%
Operating charges	16 021	-19,5%	19 903	-40,7%	33 589	4 379 076	-99,6%
Operating profit/loss	115 115	14,5%	100 577	24,0%	81 131	106 773	7,8%
Financial income	56 067	20214,1%	276	-99,8%	144 000	3 534	1486,5%
Financial charges	0	0%	2 983	-57,7%	7 055	16 247	0%
Financial profit/loss	56 067	2171,2%	-2 707	-102,0%	136 945	-9 614	683,2%
Pretax net operating income	171 182	74,9%	97 870	-55,1%	218 076	98 824	73,2%
Extraordinary income	17 363	57,8%	11 000	-66,6%	32 887	16 821	3,2%
Extraordinary charges	1 854	0%	0	0%	0	13 570	-86,3%
Extraordinary profit/loss	15 509	41,0%	11 000	-66,6%	32 887	0	0%
Net result	143 132	33,4%	107 335	-57,2%	250 962	114 755	24,7%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2008	31/12/2007
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2008		31/12/2007
	Grand Total (I to VI)	Net	2 114 674	13,5%	1 863 138	-2,9%	1 919 149
	Gross	CO	2 894 330	10,0%	2 631 039	-1,9%	2 681 172
	Amortisation	1A	779 656	1,5%	767 901	0,8%	762 023

Non declared distributed capital (I)

		31/12/2010		31/12/2008		31/12/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2010		31/12/2008		31/12/2007
	Total Active fixed asset (II)	Net	1 744 193	-0,7%	1 755 947	-0,3%	1 761 825
	Gross	BJ	2 523 848	0%	2 523 848	0%	2 523 848
	Amortisation	BK	779 656	1,5%	767 901	0,8%	762 023

Intangilble fixed assets

			31/12/2010		31/12/2008		31/12/2007
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	0	0%	0	0%	0
	Gross	AJ	0	0%	0	0%	0
	Amortisation	AK	0	0%	0	0%	0
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	0	0%	0	0%	0

Tangilble fixed assets

			31/12/2010		31/12/2008		31/12/2007
	Lands	Net	106 712	0%	106 712	0%	106 712
	Gross	AN	106 712	0%	106 712	0%	106 712
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	37 481	-23,9%	49 235	-10,7%	55 113
	Gross	AP	817 136	0%	817 136	0%	817 136
	Amortisation	AQ	779 656	1,5%	767 901	0,8%	762 023
	Plant	Net	0	0%	0	0%	0
	Gross	AR	0	0%	0	0%	0
	Amortisation	AS	0	0%	0	0%	0
	Other tangible fixed assets	Net	0	0%	0	0%	0
	Gross	AT	0	0%	0	0%	0
	Amortisation	AU	0	0%	0	0%	0
	Fixed assets in construction	Net	0	0%	0	0%	0
	Gross	AV	0	0%	0	0%	0
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	0	0%	0
	Gross	AX	0	0%	0	0%	0
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	144 193		155 947		161 825

Financial assets

			31/12/2010		31/12/2008		31/12/2007
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	0	0%	0	0%	0
	Gross	CU	0	0%	0	0%	0
	Amortisation	CV	0	0%	0	0%	0
	Inter-company receivables	Net	0	0%	0	0%	0
	Gross	BB	0	0%	0	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	1 600 000	0%	1 600 000	0%	1 600 000
	Gross	BD	1 600 000	0%	1 600 000	0%	1 600 000
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	0	0%	0	0%	0
	Gross	BH	0	0%	0	0%	0
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		1 600 000		1 600 000		1 600 000

Current Assets (III)

			31/12/2010		31/12/2008		31/12/2007
	Total Assets	Net	370 482	245,6%	107 190	-31,9%	157 324
	Gross	CJ	370 482	245,6%	107 190	-31,9%	157 324
	Amortisation	CK	0	0%	0	0%	0

Stocks

			31/12/2010		31/12/2008		31/12/2007
	Raw materials	Net	0	0%	0	0%	0
	Gross	BL	0	0%	0	0%	0
	Amortisation	BM	0	0%	0	0%	0
	Work in progress (goods)	Net	0	0%	0	0%	0
	Gross	BN	0	0%	0	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	0
	Gross	BP	0	0%	0	0%	0
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	0	0%	0	0%	0
	Gross	BR	0	0%	0	0%	0
	Amortisation	BS	0	0%	0	0%	0
	Goods for resale	Net	0	0%	0	0%	0
	Gross	BT	0	0%	0	0%	0
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	0	0%	0	0%	0

Advance payments to suppliers

			31/12/2010		31/12/2008		31/12/2007
	Advance payments to suppliers	Net	0	0%	0	0%	0
	Gross	BV	0	0%	0	0%	0
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2008		31/12/2007
	Trade accounts receivable	Net	0	0%	0	0%	0
	Gross	BX	0	0%	0	0%	0
	Amortisation	BY	0	0%	0	0%	0
	Other debtors	Net	181 941	169,8%	67 426	33,7%	50 413
	Gross	BZ	181 941	169,8%	67 426	33,7%	50 413
	Amortisation	CA	0	0%	0	0%	0
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	181 941	169,8%	67 426	33,7%	50 413

Divers

			31/12/2010		31/12/2008		31/12/2007
	Investment securities	Net	0	0%	0	0%	0
	Gross	CD	0	0%	0	0%	0
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	188 541	374,1%	39 764	-62,8%	106 911
	Gross	CF	188 541	374,1%	39 764	-62,8%	106 911
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	188 541	374,1%	39 764	-62,8%	106 911

Prepaid expenses

			31/12/2010		31/12/2008		31/12/2007
	Prepaid expenses	Net	0	0%	0	0%	0
	Gross	CH	0	0%	0	0%	0
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2008		31/12/2007
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	0	0%	0	0%	0
Gross		0	0%	0	-	-

References

		31/12/2010		31/12/2008		31/12/2007
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	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)

		31/12/2010		31/12/2008		31/12/2007
Grand Total (I to V)	EE	2 114 674	13,5%	1 863 138	-2,9%	1 919 149

Shareholder Equity (I)

			31/12/2010		31/12/2008		31/12/2007
	Total shareholders' equity (Total I)	DL	2 028 869	9,6%	1 851 128	6,2%	1 743 793
	Equity and shareholders' equity	DA	1 054 000	0%	1 054 000	0%	1 054 000
	Issue and merger premiums	DB	0	0%	0	0%	0
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	105 400	0%	105 400	0%	105 400
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	0	0%	0	0%	0
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	726 337	24,3%	584 393	75,3%	333 431
	Profit or loss for the period	DI	143 132	33,4%	107 335	-57,2%	250 962
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/12/2010		31/12/2008		31/12/2007
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2010		31/12/2008		31/12/2007
	Total provisions for risks and charges (Total III)	DR	0	0%	5 600	0%	5 600
	Risk provisions	DP	0	0%	5 600	0%	5 600
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2008		31/12/2007
	Total Liabilities (Total IV)	EC	85 805	1238,6%	6 410	-96,2%	169 755
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	0	0%	147 283
	Sundry loans and financial liabilities	DV	0	0%	0	0%	0
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	0	0%	0	0%	0
	Trade accounts payables	DX	2 570	17,0%	2 196	-89,3%	20 444
	Tax and social security liabilities	DY	83 235	2172,9%	3 662	80,6%	2 028
	Fixed asset liabilities	DZ	0	0%	0	0%	0
	Other debts	EA	0	0%	552	0%	0

Translation loss (V)

		31/12/2010		31/12/2008		31/12/2007
Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

		31/12/2010		31/12/2008		31/12/2007
Deferred income	EB	0	0%	0	0%	0

References

		31/12/2010		31/12/2008		31/12/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	85 805	1238,6%	6 410	-96,2%	169 555
Of which current bank facilities	EH	0	0%	0	0%	200

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)

		31/12/2010		31/12/2008		31/12/2007
Operating result (Total I-II)	GG	115 115	14,5%	100 577	24,0%	81 131

2 - Financial result (V - VI)

		31/12/2010		31/12/2008		31/12/2007
Financial result (Total V-VI)	GV	56 067	2171,2%	-2 707	-102,0%	136 945

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

		31/12/2010		31/12/2008		31/12/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	171 182	74,9%	97 870	-55,1%	218 076

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2008		31/12/2007
Extraordinary result (Total VII-VIII)	HI	15 509	41,0%	11 000	-66,6%	32 887

Profit or loss

		31/12/2010		31/12/2008		31/12/2007
Profit or loss	HN	143 132	33,4%	107 335	-57,2%	250 962

Total Income (I+III+V+VII)

		31/12/2010		31/12/2008		31/12/2007
Total Income (I+III+V+VII)	HL	204 566	55,3%	131 756	-54,8%	291 607

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

		31/12/2010		31/12/2008		31/12/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	61 434	151,6%	24 422	-39,9%	40 644

Operating income (I)

		31/12/2010		31/12/2008		31/12/2007
Total operating income (Total I)	FR	131 136	8,8%	120 480	5,0%	114 720

Operating income (details)

			31/12/2010		31/12/2008		31/12/2007
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	0	0%	0	0%	0
	France	FD	0	0%	0	0%	0
	Export	FE	0	0%	0	0%	0
	Sale of services	FI	131 136	8,8%	120 480	5,0%	114 720
	France	FG	131 136	8,8%	120 480	5,0%	114 720
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	131 136	8,8%	120 480	5,0%	114 720
	France	FJ	131 136	8,8%	120 480	5,0%	114 720
	Export	FK	0	0%	0	0%	0
	Stocked production	FM	0	0%	0	0%	0
	Self-constructed assets	FN	0	0%	0	0%	0
	Operating grants	FO	0	0%	0	0%	0
	Release of reserves and provisions	FP	0	0%	0	0%	0
	Other income	FQ	0	0%	0	0%	0

Operating charges (II)

		31/12/2010		31/12/2008		31/12/2007
Total operating charges (Total II)	GF	16 021	-19,5%	19 903	-40,7%	33 589

Exploitation charges

		31/12/2010		31/12/2008		31/12/2007
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	0	0%	0	0%	0
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	5 117	-49,4%	10 118	-15,8%	12 019
Tax, duty and similar payments	FX	5 027	28,7%	3 907	-75,1%	15 692
Payroll	FY	0	0%	0	0%	0
Social security costs	FZ	0	0%	0	0%	0

Depreciation

		31/12/2010		31/12/2008		31/12/2007
Depreciation of fixed assets	GA	5 877	0%	5 877	0,0%	5 878
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	0	0%	0	0%	0
Provisions for risks and charges	GD	0	0%	0	0%	0

Other charges

		31/12/2010		31/12/2008		31/12/2007
Other charges	GE	0	0%	0	0%	0

Operating charges (III-IV)

		31/12/2010		31/12/2008		31/12/2007
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2010		31/12/2008		31/12/2007
	Total financial income (Total V)	GP	56 067	20214,1%	276	-99,8%	144 000
	Share financial income	GJ	0	0%	0	0%	144 000
	Other investment income & capitalised receivables	GK	56 067	20214,1%	276	0%	0
	Other interest and similar income	GL	0	0%	0	0%	0
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31/12/2008		31/12/2007
	Total financial charge (Total VI)	GU	0	0%	2 983	-57,7%	7 055
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	0	0%	2 983	-57,7%	7 055
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2010		31/12/2008		31/12/2007
	Total extraordinary income (Total VII)	HD	17 363	57,8%	11 000	-66,6%	32 887
	Extraordinary operating income	HA	17 363	57,8%	11 000	0%	0
	Extraordinary income from capital transactions	HB	0	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	32 887

Extraordinary charges (VIII)

			31/12/2010		31/12/2008		31/12/2007
	Total extraordinary charges (Total VIII)	HH	1 854	0%	0	0%	0
	Extraordinary operating charges	HE	1 854	0%	0	0%	0
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2008		31/12/2007
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits (X)

		31/12/2010		31/12/2008		31/12/2007
Tax on profits (Total X)	HK	43 559	2735,9%	1 536	0%	0

References

		31/12/2010		31/12/2008		31/12/2007
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	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)

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	OG	0	0%	0	0%	924 000
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
	Decreasess by budget item transfer	OK1	0	0%	0	0%	0
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	924 000

Research and development Charge (Total I)

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	KD	0	0%	0	0%	107 000
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	0	0%	0	0%	0
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	0	0%	0
	Gross value at the end of period	LW	0	0%	0	0%	107 000

Tangible fixed assets (Total III)

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	LN	0	0%	0	0%	817 000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	0
	Decreasess by budget item transfer	NG1	0	0%	0	0%	0
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	0	0%	0	0%	817 000

Fiancial assets (Total IV)

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	LQ	0	0%	0	0%	0
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	0
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	0	0%	0	0%	0
	Gross value at the end of period	NK	0	0%	0	0%	0

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

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	0
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	0

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2008		31/12/2007
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	0
Increases		QV	0	0%	0	0%	0
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	0

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

			31/12/2010		31/12/2008		31/12/2007
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2010		31/12/2008		31/12/2007
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

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

			31/12/2010		31/12/2008		31/12/2007
	Value at begining of period	7C	0	0%	0	0%	38 000
Increases		UB	0	0%	0	0%	0
Decreases		UC	0	0%	0	0%	32 000
	Value at the end of period	UD	0	0%	0	0%	6 000

Includes Total allocations

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

Includes Total Withdrawal

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

Total regulated provisions (Total I)

			31/12/2010		31/12/2008		31/12/2007
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2010		31/12/2008		31/12/2007
	Value at begining of period	5Z	0	0%	0	0%	38 000
Increases		TV	0	0%	0	0%	0
Decreases		TW	0	0%	0	0%	32 000
	Value at the end of period	TX	0	0%	0	0%	6 000

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2008		31/12/2007
	Value at begining of period	7B	0	0%	0	0%	0
Increases		TY	0	0%	0	0%	0
Decreases		TZ	0	0%	0	0%	0
	Value at the end of period	UA	0	0%	0	0%	0

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

		31/12/2010		31/12/2008		31/12/2007
Gross value	VT	0	0%	0	0%	0
1 year at most	VU	0	0%	0	0%	0
More than one year	VV	0	0%	0	0%	0

State of loans

		31/12/2010		31/12/2008		31/12/2007
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	0	0%	0	0%	0
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/12/2010		31/12/2008		31/12/2007
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	0	0%	0	0%	0
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	0	0%	0	0%	0

Prepaid

		31/12/2010		31/12/2008		31/12/2007
Prepaid	VS	0	0%	0	0%	0

State Debt

			31/12/2010		31/12/2008		31/12/2007
	Total debt (gross)	VY	0	0%	0	0%	0
1 year at most		VZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	0
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2008		31/12/2007
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	0	0%	0	0%	0
1 year at most		VG2	0	0%	0	0%	0
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	0	0%	0	0%	0
1 year at most		8A2	0	0%	0	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	0	0%	0	0%	0
1 year at most		8B2	0	0%	0	0%	0
More than 1 year and 5 years at most		8B3	0	0%	0	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	0	0%	0	0%	0
1 year at most		8D2	0	0%	0	0%	0
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	0	0%	0	0%	0
1 year at most		VI2	0	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	0	0%	0	0%	0
1 year at most		8K2	0	0%	0	0%	0
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2008		31/12/2007
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

		31/12/2010		31/12/2008		31/12/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2008		31/12/2007
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2010		31/12/2008		31/12/2007
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2010		31/12/2008		31/12/2007
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2010		31/12/2008		31/12/2007
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2010		31/12/2008		31/12/2007
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2010		31/12/2008		31/12/2007
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

		31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Fixed Asset Financing		1,11	6,7%	1,04	-1,0%	1,05	1,24	-10,5%
Global Debt		236 days	1142,1%	19 days	-96,4%	533 days	127 days	85,8%
Working Capital Fund overall net		782 days	159,8%	301 days	-28,8%	423 days	47 days	1563,8%
Financial independence		%	-	%	-	1183,97%	169,18%	-
More ratios
Solvability		95,94%	-3,4%	99,36%	9,4%	90,86%	31,40%	205,5%
Capacity debt futures		%	-	%	-	%	841,18%	-
Coverage of current assets by net working capital overall		76,84%	-18,3%	94,02%	9,8%	85,59%	45,28%	69,7%
General Liquidity			-		-		0,59	-
Restricted Liquidity			-		-		0,81	-

Management or rotation

		31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Need background in operating working capital		264 days	45,1%	182 days	106,8%	88 days	39 days	576,9%
Treasury		518 days	335,3%	119 days	-64,5%	335 days	5 days	10260,0%
Inventory turnover of goods		days	-	days	-	days	17 days	-
Average length of credit granted to customers		0 days	0%	0 days	0%	0 days	53,50 days	0%
Average length of credit obtained suppliers		181 days	132,1%	78 days	-87,3%	612 days	53 days	241,5%
More ratios
Inventory turnover of raw materials in industrial enterprises		days	-	days	-	days	24 days	-
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	228 days	-
Rotation tangible assets		%	-	%	-	14,04%	236,12%	-

Profitability of the business

		31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Margin trading		0%	0%	0%	0%	0	0,03%	0%
Profitability of the business		92,26	4,4%	88,36	16,5%	75,84	6,66%	1285,3%
Net profit		109,15%	22,5%	89,09%	-59,3%	218,76%	3,83%	2749,9%
More ratios
Growth rate of turnover (excluding VAT)		8,84%	76,1%	5,02%	-68,4%	15,88%	-3,70%	338,9%
Rates integration		96,10%	4,9%	91,60%	2,3%	89,52%	18,23%	427,2%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		0%	0%	0%	0%	0%	47,16%	0%
Weight interests		0	0%	2,48%	-59,7%	6,15%	0,45%	0%

Return on capital

		31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Cash flow from the overall profitability		113,63%	20,9%	93,97%	-58,0%	223,88%	5,95%	1809,7%
Rates of economic profitability		6%	0%	6%	20,0%	5%	16%	-62,5%
Financial profitability		2028869%	9,6%	1851128%	6,2%	1743793%	1151553%	76,2%
Return on investment		7,05%	18,3%	5,96%	-56,3%	13,64%	8,76%	-19,5%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2010		31/12/2008		31/12/2007	Sector Median 2010
Turnover	131 136	8,8%	120 480	5,0%	114 720	4 741 499 €	-97,2%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	159 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0,05 % CA	0%

Sale of goods produced	131 136	8,8%	120 480	5,0%	114 720
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	131 136 €	8,8%	120 480 €	5,0%	114 720 €	1 650 554 €	-92,1%
	100,00 % CA	0%	100,00 % CA	0%	100,00 % CA	99,07 % CA	0,9%

Trading margin	0	0%	0	0%	0	159	0%
+ Period Production	131 136	8,8%	120 480	5,0%	114 720	1 650 554	-92,1%
- Purchase of raw materials	0	0%	0	0%	0
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	5 117	-49,4%	10 118	-15,8%	12 019
Added value	126 019 €	14,2%	110 362 €	7,5%	102 701 €	623 958 €	-79,8%
	96,10 % CA	4,9%	91,60 % CA	2,3%	89,52 % CA	18,23 % CA	427,2%

Added value	126 019 €	14,2%	110 362 €	7,5%	102 701 €	623 958 €	-79,8%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	5 027	28,7%	3 907	-75,1%	15 692
- Personal charges	0	0%	0	0%	0
Gross operating surplus	120 992 €	13,7%	106 455 €	22,3%	87 009 €	175 125 €	-30,9%
	92,26 % CA	4,4%	88,36 % CA	16,5%	75,84 % CA	6,66 % CA	1285,3%

Gross operating surplus	120 992 €	13,7%	106 455 €	22,3%	87 009 €	175 125 €	-30,9%
+ Release of reserves and provisions	0	0%	0	0%	0
+ Other operating income	0	0%	0	0%	0
- Depreciation/Amortisation	5 877	0%	5 877	0,0%	5 878
- Other charges	0	0%	0	0%	0
Operating result	115 115 €	14,5%	100 578 €	24,0%	81 131 €	100 832 €	14,2%
	87,78 % CA	5,2%	83,48 % CA	18,0%	70,72 % CA	5,20 % CA	1588,1%

Operating result	115 115 €	14,5%	100 578 €	24,0%	81 131 €	100 832 €	14,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	56 067	20214,1%	276	-99,8%	144 000
- Financial charges	0	0%	2 983	-57,7%	7 055
Pre-tax result	171 182 €	74,9%	97 871 €	-55,1%	218 076 €	83 977 €	103,8%
	130,54 % CA	60,7%	81,23 % CA	-57,3%	190,09 % CA	5,22 % CA	2400,8%

Extraordinary income	17 363	57,8%	11 000	-66,6%	32 887	16 821	3,2%
- Extraordinary charges	1 854	0%	0	0%	0
Extraordinary result	15 509 €	41,0%	11 000 €	-66,6%	32 887 €	0 €	0%
	11,83 % CA	29,6%	9,13 % CA	-68,2%	29 % CA	0 % CA	0%

Pre-tax result	171 182 €	74,9%	97 871 €	-55,1%	218 076 €	83 977 €	103,8%
Extraordinary result	15 509 €	41,0%	11 000 €	-66,6%	32 887 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	43 559	2735,9%	1 536	0%	0
Net result	143 132 €	33,4%	107 335 €	-57,2%	250 963 €	107 419 €	33,2%
	109,15 % CA	22,5%	89,09 % CA	-59,3%	218,76 % CA	3,42 % CA	3091,5%

ADDITIONAL INFORMATION

This company is not under monitoring

Trends

Profitability

Liquidity

Net worth

No judgment information for the company

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

Preferential rights details and history

Status of collection

This company is not under monitoring

event history

Status history

Date	Description
No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
29/12/2011	Bodacc C	Comptes annuels et rapports
971 - GUADELOUPE GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE POINTE-A-PITRE 3500 - 313284267 RCS. COMPAGNIE RIZICOLE DES ANTILLES FRANÇAISES. Forme : S.A. Adresse : rue de l'Industrie, Z.I. de Jarry 97122 Baie-Mahault. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2010.
16/05/2010	Bodacc C	Comptes annuels et rapports
971 - GUADELOUPE GREFFE DU TRIBUNAL MIXTE DE COMMERCE DE POINTE-A-PITRE 3159 - 313284267 RCS. COMPAGNIE RIZICOLE DES ANTILLES FRANÇAISES. Forme : S.A. Adresse : rue de l'Industrie, Z.I. de Jarry 97122 Baie-Mahault. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
23/12/2005	Bodacc B	Modifications et mutations diverses
2794 - RCS Pointe-à-Pitre 313 284 267. RC 78-B 83. COMPAGNIE RIZICOLE DES ANTILLES FRANÇAISES. Sigle : CRAF. Forme : S.A. Capital : 1 054 000 euros. Adresse du siège social : Z.I. de Jarry, rue de l'Industrie,, 97122 Administration : ancien commissaire aux comptes titulaire : ANTILLES AUDIT. Ancien commissaire aux comptes suppléant : DEVARIEUX (Raymond). Changement de représentant de la SIACOM. Ancien : M. BOURDILLON. Nouveau : VAN ARENDONK (Gérard, Maria). Date d'effet : 29 avril 2003.
16/01/2002	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Pointe-à-Pitre B 313284267 RC 78-B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : C.R.A.F. Forme : S.A.R. L. Capital : 6 200 000 F. Adresse : Z.I. de Jarry, rue de l'Industrie, 97122 Baie- Mahault Nouvelle situation du siège social. Capital : 1 054 000 euros. Date d'effet : 25 juin 2001.
16/05/2000	Bodacc B	Modifications et mutations diverses
RCS Pointe-à-Pitre B 313 284 267 RC 78- B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : CRAF. Forme : S.A. Capital : 6 200 000 F (fixe). Adresse du siège social : rue de l'Industrie, zone industrielle de Jarry, 97122 Baie- Mahault. Administration : nouveau directeur général : BOURDILLON (Xavier) à compter du:1er janvier 1997 Ancien directeur général : SALVAN (Gérard) ancien administrateur : VIVET (Raymond, Georges) à compter du:22 avril 1997 Ancien commissaire aux comptes suppléant : DESVARIEUX (Henri) nouveau commissaire aux comptes suppléant : DESVARIEUX (Raymond) à compter du:27 juin 1997 Changement de représentant permanent de la SOCIETE INDUSTRIELLE AGRICOLE ET COMMERCIALE D' OUTRE MER ancien : M. CHATEL nouveau : BOURDILLON (Jean) à compter du:10 octobre 1997.
11/02/2000	Bodacc B	Modifications et mutations diverses
RCS Pointe-à-Pitre B 313284267 RC 78-B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : C.R.A.F. Forme : S.A. Capital : 6 200 000 F. Adresse du siège social : Z.I. de Jarry, rue de l' Industrie, 97122 Baie-Mahault. Administration : nomination en qualité de commissaire aux comptes titulaire : FIDECOMPTA. Nomination en qualité de commissaire aux comptes suppléant : FIDAREX. Date d'effet : 6 mai 1999.
18/03/1999	Bodacc B	Modifications et mutations diverses
RCS Pointe-à-Pitre B 313 284 267 RC 78- B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : CRAF. Forme : S.A. Capital : 6 200 000 F (fixe). Adresse du siège social : rue de l'Industrie, Z.I. de Jarry, 97122 Baie-Mahault. Administration : ancien président du conseil d'administration et administrateur : BOURDILLON (Jean- Pierre, Michel) nouveau président du conseil d'administration et administrateur : BOURDILLON (Jean- Pierre, Marie, Albert) nouvel administrateur : BELLONNIE ET BOURDILLON SUCCESSEURS. Date d'effet : 25 juin 1998.
21/03/1996	Bodacc B	Modifications et mutations diverses
RCS Pointe-à-Pitre B 313 284 267 RC 78- B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : CRAF. Forme : S.A. Capital : 6 200 000 F (fixe). Adresse du siège social : rue de l'Industrie, zone industrielle de Jarry, 97122 Baie- Mahault. Administration : nomination en qualité d'administrateur de BOURDILLON ( Xavier) en remplacement de BOURDILLON ( Albert), décédé. Date d'effet : 28 juin 1995.
04/07/1995	Bodacc B	Modifications et mutations diverses
RCS Pointe-à-Pitre B 313284267 RC 78-B 83 COMPAGNIE RIZICOLE DES ANTILLES FRANCAISES. Sigle : C.R.A.F. Forme : S.A. à conseil d'administration. Capital : 6 200 000 F (fixe). Adresse du siège social : zone industrielle de Jarry, rue de l' Industrie, 97122 Baie-Mahault. Commentaires : ancienne forme juridique : conseil de surveillance et directoire. Administration : président du conseil d' administration et administrateur : BOURDILLON (Jean-Pierre). Président du conseil de surveillance démissionnaire : MARTIN (Emmanuel). Président du directoire démissionnaire : FABRE ( Bernard) Administrateurs : VIVET ( Raymond) MARTIN (Emmanuel) BOURDILLON (Albert), de la S.A. SIACOM. Vice-président du conseil de surveillance démissionnaire : BOURDILLON (Albert). Membre du conseil de surveillance démissionnaire : CHATEL (Gilbert). Membre du directoire de S.A. SUSTITUTION démissionnaire : FABRE ( Bernard). Date d'effet : 14 janvier 1994.

Company events history

Date	Description
29/12/2011	Bodacc C : Deposit accounts notice
24/11/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/12/2010	New accounts available
16/05/2010	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
31/12/2007	New accounts available
31/12/2006	New accounts available
06/10/2005	PV d'Assemblée
06/10/2005	Minutes of general meeting of shareholders
06/10/2005	Acte sous seing privé
06/10/2005	Private document
06/10/2005	Nomination/démission des organes de gestion
06/10/2005	Appointment/resignation of company officers
06/10/2005	Acte modificatif
06/10/2005	Amendment
24/08/2004	Continuation malgré perte supérieure à la moitié du capital
24/08/2004	Continuation of business despite loss of equity
24/08/2004	Acte sous seing privé
24/08/2004	Private document
24/08/2004	PV d'Assemblée
24/08/2004	Minutes of general meeting of shareholders
27/06/2003	Update of Company Activity
27/06/2003	Reactivation of Company
06/05/2003	Projet de Fusion
06/05/2003	Statuts mis à jour
06/05/2003	Acte sous seing privé
16/10/2001	Acte sous seing privé
16/10/2001	Acte modificatif
16/10/2001	Conversion du Capital Social en Euros
16/10/2001	Augmentation de Capital
16/10/2001	PV d'Assemblée
29/12/1999	Acte sous seing privé
29/12/1999	PV d'Assemblée
29/12/1999	Changement de Commissaire aux Comptes
29/12/1999	Nomination/démission des organes de gestion
10/12/1998	PV d'Assemblée
10/12/1998	Nomination/démission des organes de gestion
10/12/1998	PV du Conseil d'Administration
10/12/1998	Modification du Conseil d'Administration
10/12/1998	Acte sous seing privé
21/01/1998	PV d'Assemblée
21/01/1998	PV du Conseil d'Administration
21/01/1998	Nomination/démission des organes de gestion
21/01/1998	Acte sous seing privé
02/10/1996	PV d'Assemblée
02/10/1996	Nomination/démission des organes de gestion
02/10/1996	Modification de l'objet social
02/10/1996	Acte sous seing privé
02/10/1996	Modification du Conseil d'Administration
02/10/1996	Statuts mis à jour
24/01/1996	Modification du Conseil d'Administration
24/01/1996	Nomination/démission des organes de gestion
24/01/1996	PV d'Assemblée
22/03/1995	PV du Conseil d'Administration
22/03/1995	Statuts mis à jour
22/03/1995	Changement de Forme Juridique sans changement de catégorie
22/03/1995	PV d'Assemblée
22/03/1995	Nomination/démission des organes de gestion
09/06/1992	PV du Conseil d'Administration
09/06/1992	PV d'Assemblée

Establishment events history

Date	Description
03/12/2012	Update Rating
18/09/2012	Update Rating
24/11/2011	Update Rating
24/11/2011	Update Limit
02/10/2010	Update Rating
28/05/2010	Update Limit
28/05/2010	Update Rating
30/12/2009	Update Rating
05/09/2009	Update Rating
17/11/2008	Update of phone numbers
27/06/2003	Update of Establishment Activity
27/06/2003	Modification of Head office

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.54
UK Pound	1	Rs.84.19
Euro	1	Rs.71.11

INFORMATION DETAILS

Report Prepared by :

MNL

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.