MIRA INFORM REPORT
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Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
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Name : |
G. MAC AGENCIES LIMITED
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Registered Office : |
Emyvale Co Monaghan Country |
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Country : |
Ireland |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.10.1996 |
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Com. Reg. No.: |
E0255629 |
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Legal Form : |
Private Independent |
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Line of Business : |
Subject is engaged in the retail sale of (furniture; articles for
lighting; non-electrical household appliances; household utensils and
cutlery, crockery, glassware, china and pottery; curtains, net curtains and
other household furnishing articles of textile materials; wood, cork goods
and wickerwork goods; and household articles and equipment not elsewhere
classified). |
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No of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Ireland |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
IRELAND - ECONOMIC OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property market and construction industry. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the country’s deeply troubled banking sector. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s fragile banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt.
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Source
: CIA |
COMPANY
details
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G. Mac Agencies Limited |
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Business
Description
G. Mac Agencies Limited is primarily engaged in the retail sale of
(furniture; articles for lighting; non-electrical household appliances;
household utensils and cutlery, crockery, glassware, china and pottery;
curtains, net curtains and other household furnishing articles of textile
materials; wood, cork goods and wickerwork goods; and household articles and
equipment not elsewhere classified).
Industry
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Industry |
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ANZSIC 2006: |
421
- Furniture, Floor Coverings, Houseware and Textile Goods Retailing |
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ISIC Rev 4: |
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NACE Rev 2: |
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NAICS 2012: |
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UK SIC 2007: |
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US SIC 1987: |
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Name |
Title |
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George Mcmahon |
Secretary, Director |
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Norma Mcmahon |
Director |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366
2 - Balance Sheet Item Exchange Rate: USD 1
= EUR 0.7566
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ANZSIC 2006 Codes: |
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421 |
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Furniture, Floor Coverings, Houseware and Textile Goods Retailing |
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ISIC Rev 4 Codes: |
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4759 |
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Retail sale of electrical household appliances, furniture, lighting equipment
and other household articles in specialized stores |
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NACE Rev 2 Codes: |
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4759 |
- |
Retail sale of furniture, lighting equipment and other household
articles in specialised stores |
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NAICS 2012 Codes: |
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442 |
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Furniture and Home Furnishings Stores |
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US SIC 1987: |
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57 |
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Home Furniture, Furnishings, and Equipment Stores |
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UK SIC 2007: |
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47599 |
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Retail sale of furniture, lighting equipment and other household articles
(other than musical instruments) n.e.c., in specialised stores |
G. Mac Agencies Limited is primarily engaged in the retail sale of
(furniture; articles for lighting; non-electrical household appliances;
household utensils and cutlery, crockery, glassware, china and pottery;
curtains, net curtains and other household furnishing articles of textile
materials; wood, cork goods and wickerwork goods; and household articles and
equipment not elsewhere classified).
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Auditor: |
CMF |
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Auditor: |
CMF |
Executives
Report
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Board of Directors |
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Secretary, Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary, Director |
Company Secretary |
Annual Financial Reports
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Annual
Balance Sheet |
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Financials
in: USD (mil) |
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
EUR |
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Exchange Rate |
0.7566 |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
No |
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Tangible Assets |
5.8 |
5.7 |
0.9 |
0.9 |
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Total Fixed Assets |
5.8 |
5.7 |
0.9 |
0.9 |
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Stocks |
0.5 |
0.4 |
5.2 |
5.5 |
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Cash |
0.7 |
1.2 |
1.3 |
1.4 |
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Miscellaneous Current Assets |
0.5 |
0.4 |
0.6 |
0.9 |
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Other Current Assets |
1.2 |
1.5 |
1.9 |
2.3 |
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Total Current Assets |
1.6 |
1.9 |
7.1 |
7.8 |
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Total Assets |
7.5 |
7.7 |
8.0 |
8.7 |
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Net assets |
7.5 |
7.6 |
7.3 |
7.9 |
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Total Current Liabilities |
- |
0.0 |
0.7 |
0.7 |
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Total Long Term Liabilities |
0.6 |
0.6 |
- |
- |
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Total Liabilities |
0.6 |
0.6 |
0.7 |
0.7 |
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Profit & Loss Account Reserve |
6.9 |
7.0 |
7.3 |
7.9 |
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Shareholders Funds |
6.9 |
7.0 |
7.3 |
7.9 |
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Capital Employed |
7.5 |
7.6 |
7.3 |
7.9 |
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Net Worth |
6.9 |
7.0 |
7.3 |
7.9 |
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Working Capital |
1.6 |
1.9 |
6.4 |
7.0 |
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Liquid Assets |
1.2 |
1.5 |
1.9 |
2.3 |
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Trade Creditors |
- |
0.0 |
0.0 |
0.1 |
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Bank Overdraft |
- |
- |
- |
0.0 |
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Miscellaneous Current Liabilities |
- |
0.0 |
0.6 |
0.7 |
Annual Cash Flows
Financials in: USD (mil)
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31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.778237 |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
No |
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Net Cash |
0.6 |
1.2 |
1.3 |
1.4 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.09 |
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1 |
Rs. 99.84 |
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Euro |
1 |
Rs. 82.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.