MIRA INFORM REPORT

Report Date :

06.11.2014

IDENTIFICATION DETAILS

Name :	H.M.D
Registered Office :	5531 RUE DES SABLONS 45140 ORMES
Country :	France
Financials (as on) :	31.07.2011
Date of Incorporation :	December, 1983
Com. Reg. No.:	RCS Orleans 0 328 466 313
Legal Form :	Simplified joint stock company
Line of Business :	Agents involved in the sale of textiles, clothing, fur, footwear and leather (4616Z)
No. of Employees :	3 to 5 employees

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

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 82 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 mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Company summary

		EUR VAT Number	FR07328466313
Activity (APE)	Agents involved in the sale of textiles, clothing, fur, footwear and leather (4616Z)	Legal form	Simplified joint stock company
Phone	02 38 70 55 39	RCS Registration	RCS Orleans 0 328 466 313
Fax	02 38 70 57 43	Share capital	182,938 Euros
Address	H.M.D 5531 RUE DES SABLONS 45140 ORMES	Incorporated Date	12/1983
Nationality	France	Status	Economically active

Trading to Date	07/31/2011	07/31/2010	07/31/2007
Turnover	8,131,735 €	7,081,381 €	13,970,008 €
Gross Operating Surplus	1.45 % Turnover	-4.60 % Turnover	7.08 % Turnover
Shareholders’ equity	5,111,588 €	5,095,782 €	4,300,338 €
Net result	15,805 €	5,117 €	663,778 €
Employees	3 to 5 employees	-	-

Company details

Activity (APE)	Agents involved in the sale of textiles, clothing, fur, footwear and leather (4616Z)
RCS Registration	RCS Orleans 0 328 466 313	Share capital	182,938 Euros
Registration Court	Orleans (45)	Legal form	Simplified joint stock company
Court Registry Number	20 0 7B00571	EUR VAT Number	FR07328466313
Incorporation Date	12/1983	Formation Date	10/1983
Deregistration Date		Last account Date	31/07/2011
Nationality	France

Ultimate Parent

1 ultimate parent company for this company >  JCP - Vente à distance sur catalogue général (4791A)  in ORMES  (45140)

Establishment details

Activity (APE)	Agents involved in the sale of textiles, clothing, fur, footwear and leather (4616Z)	Business Pages FT®
Postal Address	H.M.D 5531 RUE DES SABLONS 45140 ORMES	Trading Address	5531 RUE DES SABLONS 45140 ORMES
Telephone	02 38 70 55 39
Fax	02 38 70 57 43

Type	Head office	Status	Economically active
Formation Date	09/2006	Reason for formation	Formation
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature	Other	Activity Location	Other
Location surface		Seasonality

Department	Loiret (45)	Region	Centre
District	2	Area	39
City	ORMES	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	1 branch entities in this company
Head office	> H.M.D <<<  - Intermédiaires du commerce en textiles, habillement, fourrures, chaussures et articles en cuir (4616Z)  in ORMES  (45140)
Secondary establishments	>  H.M.D - Intermédiaires du commerce en textiles, habillement, fourrures, chaussures et articles en cuir (4616Z)  in AVON  (77210) >  H.M.D - Intermédiaires du commerce en textiles, habillement, fourrures, chaussures et articles en cuir (4616Z)  in ATHIS MONS   (91200) >  H.M.D - Intermédiaires du commerce en textiles, habillement, fourrures, chaussures et articles en cuir (4616Z)  in GRIGNY  (91350)

Regionality	Legal unit with multiple establishments in many areas having at least 50% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 50 to 80% of workforce

Workforces

Workforce at address

1 or 2 employees

Company workforce

3 to 5 employees

DIRECTORS/MANAGEMENT

Current Directors

1

directors

Name	M. PROVOT JEAN-CHARLES
Manager position	President	Date of birth	27/10/1964
Place of birth	CAEN (14)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M JEAN-CHARLES PAUL PROVOT	10/27/1964 - 14 CAEN
President	M JEAN-CHARLES PROVOT	10/27/1964 - CAEN
President	M JEAN-CHARLES PROVOT	10/27/1964 - CAEN (14)

NEGATIVE INFORMATION

judgements

Collective procedures

No judgment information for the company

SHARE & SHARE CAPITAL INFORMATION

Share capital

182,938 Euros

PAYMENT INFORMATION

Payment Information Summary
	Total number of Invoices available	36
	Total number of Invoices paid within or up to 30 days after the due date	28
	Total number of Invoices paid more than 30 days after the due date	8
	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

Ultimate Holding Company
	Company Name	Company number
	JCP	432791812

Group data

Ultimate parent company	JCP
Direct parent	JCP - 93.04 %
Group – Number of companies	6
Linkages – Number of companies	-
Number of countries	-

Group Structure

Go directly to the current company

Display only where participation % > 33 %

Company Name	SIREN	Parts	Last account published
JCP	432791812	-	31/07/2011
H.M.D	328466313	93.04%	31/07/2011
ALECTO	302527551	41%	31/07/2010
NATURAL COMPANY	324718774	45.80%	31/07/2010
THE DECO FACTORY	530963560	95%	-
SCI LES ORMES	444564371	99.99%	-

Linkages

Ultimate parent company	JCP
Direct parent	JCP - 93.04 %
Group – Number of companies	6
Linkages – Number of companies	-
Number of countries	-

No Linkages information available for the company

FINANCIAL INFORMATION

Accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/07/2011	31/07/2010	31/07/2007
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	26/04/2012	14/03/2011	-
Activity Code	4616Z	4616Z	4616Z
Employees	0	0	0

Active account

Annual Accounts	31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	1,908,603	21.2%	1,575,279	32.1%	1,192,185	8,881.50	21389.6%
- Intangible assets	0	0%	170	0%	0	0	0%
- Tangible assets	352,260	560.9%	53,297	91.9%	27,773	2,229.50	15700.0%
- Financial assets	1,556,343	2.3%	1,521,812	30.7%	1,164,410	159.50	975663.6%
Net current assets	7,315,650	-22.5%	9,436,111	-25.2%	12,609,630	105,442.50	6838.0%
- Stocks	1,115,145	47.2%	757,767	-18.8%	933,230	0	0%
- Advanced payments	0	-22.5%	0	0%	0	0	0%
- Receivables	2,119,585	-47.7%	4,050,527	-64.3%	11,348,965	39,367.50	5284.1%
- Securities and cash	4,080,920	-11.8%	4,627,817	1313.4%	327,432	25,510.50	15897.0%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	0	0%	1,919	-74.4%	7,500	0	0%
Total Assets	9,224,256	-16.2%	11,013,308	-20.2%	13,809,316	137,634.50	6602.0%

Passive Account

Annual Accounts	31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Shareholders' equity	5,111,588	0.3%	5,095,782	18.5%	4,300,338	59,672.50	8466.1%
Share capital	182,938	0%	182,938	0%	182,938	8,000	2186.7%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	50,436	-3.7%	52,355	-94.0%	876,007	0	0%
Liabilities	4,062,228	-30.7%	5,862,336	-31.9%	8,605,031	62,549	6394.5%
- Financial liabilities	12,352	-95.2%	257,816	-68.4%	816,920	4,374	182.4%
- Advanced payments received	0	0%	0	0%	0	0	0%
- Trade account payables	3,488,480	-18.6%	4,285,486	59.5%	2,686,846	8,362	41618.2%
- Tax and social liabilities	41,471	-7.6%	44,861	-84.3%	285,423	21,980	88.7%
- Other debts and fixed assets liabilities	519,922	-59.3%	1,277,002	-73.6%	4,843,778	2,438.50	21221.4%
Account regularization	0	0%	0	0%	0	0	0%
Total liabilities	9,224,255	-16.2%	11,013,308	-20.2%	13,809,316	137,635	6602.0%

Results

Annual Accounts	31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Sales of Goods	8,199,821	9.9%	7,463,192	-51.2%	15,294,718	178,276.50	4499.5%
Net turnover	8,131,735	14.8%	7,081,381	-49.3%	13,970,008	175,152.50	4542.7%
- of which net export turnover	272,592	1910.4%	13,559	0%	0	0	0%
Operating charges	8,182,293	9.4%	7,480,735	-47.4%	14,226,597	161,113	4978.6%
Operating profit/loss	17,528	199.9%	-17,543	-101.6%	1,068,120	8,954	95.8%
Financial income	98,996	-40.8%	167,357	43.6%	116,533	0.50	19799100%
Financial charges	64,924	20.6%	53,812	-60.1%	134,886	208.50	31038.6%
Financial profit/loss	34,072	-70.0%	113,545	718.7%	-18,353	-05	681540.0%
Pretax net operating income	51,600	-46.3%	96,002	-90.9%	1,049,767	7,282.50	608.5%
Extraordinary income	10,827	101.1%	5,384	93.9%	2,776	0	0%
Extraordinary charges	13,050	196.5%	4,402	-80.4%	22,439	89	14562.9%
Extraordinary profit/loss	-2,223	-326.4%	982	105.0%	-19,662	0	0%
Net result	15,805	208.9%	5,117	-99.2%	663,778	7,191.50	119.8%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/07/2011	31/07/2010	31/07/2007
Months	12	12	12

Accounts - Active
Current Assets |  Equalization accounts |  Reference

Grand Total - Passive Accounts (I to IV)

			31/07/2011		31/07/2010		31/07/2007
	Grand Total (I to VI)	Net	9,224,256	-16.2%	11,013,308	-20.2%	13,809,316
	Gross	CO	9,706,997	-14.3%	11,324,996	-20.4%	14,234,873
	Amortisation	1A	482,741	54.9%	311,688	-26.8%	425,557

Non declared distributed capital (I)

		31/07/2011		31/07/2010		31/07/2007
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/07/2011		31/07/2010		31/07/2007
	Total Active fixed asset (II)	Net	1,908,603	21.2%	1,575,279	32.1%	1,192,185
	Gross	BJ	2,127,816	22.2%	1,740,740	38.3%	1,258,396
	Amortisation	BK	219,213	32.5%	165,461	149.9%	66,210

Intangilble fixed assets

			31/07/2011		31/07/2010		31/07/2007
	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%	170	0%	0
	Gross	AF	72,410	0%	72,410	2663.7%	2,620
	Amortisation	AG	72,410	0.2%	72,240	2657.3%	2,620
	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%	170	0%	0

Tangilble fixed assets

			31/07/2011		31/07/2010		31/07/2007
	Lands	Net	0	0%	0	0%	0
	Gross	AN	0	0%	0	0%	0
	Amortisation	AO	0	0%	0	0%	0
	Buildings	Net	0	0%	0	0%	0
	Gross	AP	0	0%	0	0%	0
	Amortisation	AQ	0	0%	0	0%	0
	Plant	Net	328,479	1042.0%	28,764	30.3%	22,067
	Gross	AR	405,094	632.7%	55,286	101.1%	27,489
	Amortisation	AS	76,615	188.9%	26,522	389.2%	5,422
	Other tangible fixed assets	Net	23,781	-3.1%	24,533	330.0%	5,706
	Gross	AT	38,535	7.6%	35,798	324.1%	8,440
	Amortisation	AU	14,754	31.0%	11,265	312.0%	2,734
	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	352,260		53,297		27,773

Financial assets

			31/07/2011		31/07/2010		31/07/2007
	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	1,049,431	2.8%	1,020,931	1.0%	1,010,639
	Gross	CU	1,104,865	2.6%	1,076,365	1.0%	1,066,074
	Amortisation	CV	55,434	0%	55,434	0.0%	55,435
	Inter-company receivables	Net	348,723	0%	348,723	0%	0
	Gross	BB	348,723	0%	348,723	0%	0
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	0	0%	0
	Gross	BD	0	0%	0	0%	0
	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	158,189	4.0%	152,158	-1.0%	153,771
	Gross	BH	158,189	4.0%	152,158	-1.0%	153,771
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		1,556,343		1,521,812		1,164,410

Current Assets (III)

			31/07/2011		31/07/2010		31/07/2007
	Total Assets	Net	7,315,650	-22.5%	9,436,111	-25.2%	12,609,630
	Gross	CJ	7,579,177	-20.9%	9,582,335	-26.1%	12,968,976
	Amortisation	CK	263,527	80.2%	146,224	-59.3%	359,346

Stocks

			31/07/2011		31/07/2010		31/07/2007
	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	1,115,145	47.2%	757,767	-18.8%	933,230
	Gross	BT	1,115,145	47.2%	757,767	-34.2%	1,152,136
	Amortisation	BU	0	0%	0	0%	218,906
	Sub Total Stocks	Net	1,115,145	47.2%	757,767	-18.8%	933,230

Advance payments to suppliers

			31/07/2011		31/07/2010		31/07/2007
	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

			31/07/2011		31/07/2010		31/07/2007
	Trade accounts receivable	Net	319,648	-84.9%	2,112,514	-79.6%	10,346,082
	Gross	BX	555,480	-75.2%	2,237,374	-78.7%	10,486,523
	Amortisation	BY	235,832	88.9%	124,860	-11.1%	140,441
	Other debtors	Net	1,744,451	-6.9%	1,872,927	98.7%	942,817
	Gross	BZ	1,744,451	-6.9%	1,872,927	98.7%	942,817
	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	2,064,099	-48.2%	3,985,441	-64.7%	11,288,899

Divers

			31/07/2011		31/07/2010		31/07/2007
	Investment securities	Net	2,273,911	-39.1%	3,736,353	7140.2%	51,606
	Gross	CD	2,301,606	-38.7%	3,757,717	7181.6%	51,606
	Amortisation	CE	27,695	29.6%	21,364	0%	0
	Cash and cash equivalents	Net	1,807,009	102.7%	891,464	223.2%	275,826
	Gross	CF	1,807,009	102.7%	891,464	223.2%	275,826
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	4,080,920	-11.8%	4,627,817	1313.4%	327,432

Prepaid expenses

			31/07/2011		31/07/2010		31/07/2007
	Prepaid expenses	Net	55,486	-14.7%	65,086	8.4%	60,066
	Gross	CH	55,486	-14.7%	65,086	8.4%	60,066
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/07/2011		31/07/2010		31/07/2007
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%	1,919	-74.4%	7,500
Gross		0	0%	1,919	-	-

References

		31/07/2011		31/07/2010		31/07/2007
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)

		31/07/2011		31/07/2010		31/07/2007
Grand Total (I to V)	EE	9,224,255	-16.2%	11,013,308	-20.2%	13,809,316

Shareholder Equity (I)

			31/07/2011		31/07/2010		31/07/2007
	Total shareholders' equity (Total I)	DL	5,111,588	0.3%	5,095,782	18.5%	4,300,338
	Equity and shareholders' equity	DA	182,938	0%	182,938	0%	182,938
	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	18,294	0%	18,294	0.0%	18,293
	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	4,894,551	0.1%	4,889,433	42.3%	3,435,327
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	0	0%	0	0%	0
	Profit or loss for the period	DI	15,805	208.9%	5,117	-99.2%	663,778
	Investment grants	DJ	0	0%	0	0%	0
	Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

			31/07/2011		31/07/2010		31/07/2007
	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)

			31/07/2011		31/07/2010		31/07/2007
	Total provisions for risks and charges (Total III)	DR	50,436	-3.7%	52,355	-94.0%	876,007
	Risk provisions	DP	50,436	-3.7%	52,355	-94.0%	876,007
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/07/2011		31/07/2010		31/07/2007
	Total Liabilities (Total IV)	EC	4,062,228	-30.7%	5,862,336	-31.9%	8,605,031
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	0	0%	27,589	-85.1%	185,361
	Sundry loans and financial liabilities	DV	12,352	-94.6%	230,227	-63.5%	631,559
	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	3,488,480	-18.6%	4,285,486	59.5%	2,686,846
	Tax and social security liabilities	DY	41,471	-7.6%	44,861	-84.3%	285,423
	Fixed asset liabilities	DZ	34,252	0%	34,252	3.0%	33,262
	Other debts	EA	485,670	-60.8%	1,239,919	-74.1%	4,782,577

Translation loss (V)

		31/07/2011		31/07/2010		31/07/2007
Translation loss (Total V)	ED	0	0%	2,831	-89.9%	27,939

Equalization accounts

		31/07/2011		31/07/2010		31/07/2007
Deferred income	EB	0	0%	0	0%	0

References

		31/07/2011		31/07/2010		31/07/2007
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	4,062,228	-30.7%	5,862,336	-31.9%	8,605,031
Of which current bank facilities	EH	0	0%	978	-99.5%	185,361

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)

		31/07/2011		31/07/2010		31/07/2007
Operating result (Total I-II)	GG	17,528	199.9%	-17,543	-101.6%	1,068,120

2 -Financial result(V - VI)

		31/07/2011		31/07/2010		31/07/2007
Financial result (Total V-VI)	GV	34,072	-70.0%	113,545	718.7%	-18,353

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

		31/07/2011		31/07/2010		31/07/2007
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	51,600	-46.3%	96,002	-90.9%	1,049,767

4 -Extraordinary result(VII-VIII)

		31/07/2011		31/07/2010		31/07/2007
Extraordinary result (Total VII-VIII)	HI	-2,223	-326.4%	982	105.0%	-19,662

Profit or loss

		31/07/2011		31/07/2010		31/07/2007
Profit or loss	HN	15,805	208.9%	5,117	-99.2%	663,778

Total Income (I+III+V+VII)

		31/07/2011		31/07/2010		31/07/2007
Total Income (I+III+V+VII)	HL	8,309,644	8.8%	7,635,933	-50.5%	15,414,028

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

		31/07/2011		31/07/2010		31/07/2007
Total charges (Total II+IV+VI+VIII+IX+X)	HM	8,293,837	8.7%	7,630,813	-48.3%	14,750,250

Operating income(I)

		31/07/2011		31/07/2010		31/07/2007
Total operating income (Total I)	FR	8,199,821	9.9%	7,463,192	-51.2%	15,294,718

Operating income (details)

			31/07/2011		31/07/2010		31/07/2007
	Sale of goods for resale	FC	8,121,859	14.7%	7,078,783	-48.6%	13,767,410
	France	FA	7,849,267	11.1%	7,065,224	-48.7%	13,767,410
	Export	FB	272,592	1910.4%	13,559	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	9,876	280.1%	2,598	-98.7%	202,598
	France	FG	9,876	280.1%	2,598	-98.7%	202,598
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	8,131,735	14.8%	7,081,381	-49.3%	13,970,008
	France	FJ	7,859,143	11.2%	7,067,822	-49.4%	13,970,008
	Export	FK	272,592	1910.4%	13,559	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	68,056	-82.2%	381,811	-71.2%	1,324,637
	Other income	FQ	30	0%	0	0%	71

Operating charges(II)

		31/07/2011		31/07/2010		31/07/2007
Total operating charges (Total II)	GF	8,182,293	9.4%	7,480,735	-47.4%	14,226,597

Exploitation charges

		31/07/2011		31/07/2010		31/07/2007
Purchase of goods for resale	FS	6,143,065	10.8%	5,546,418	-52.6%	11,705,121
Change in stocks of goods for resale	FT	-357,378	-241.4%	-104,689	79.6%	-512,822
Purchase of raw materials	FU	74,259	5.3%	70,510	158.8%	27,243
Change in stocks of raw materials	FV	0	0%	0	0%	0
Other external purchases and charges	FW	1,934,262	24.4%	1,555,218	6.5%	1,460,687
Tax, duty and similar payments	FX	38,599	-70.7%	131,531	28.3%	102,542
Payroll	FY	128,443	-13.1%	147,752	8.0%	136,849
Social security costs	FZ	52,623	-13.1%	60,542	-2.4%	62,013

Depreciation

		31/07/2011		31/07/2010		31/07/2007
Depreciation of fixed assets	GA	57,388	159.7%	22,094	237.2%	6,553
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	110,972	0%	0	0%	359,346
Provisions for risks and charges	GD	0	0%	50,436	-94.2%	876,007

Other charges

		31/07/2011		31/07/2010		31/07/2007
Other charges	GE	60	-93.5%	923	-69.8%	3,056

Operating charges (III-IV)

		31/07/2011		31/07/2010		31/07/2007
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)

			31/07/2011		31/07/2010		31/07/2007
	Total financial income (Total V)	GP	98,996	-40.8%	167,357	43.6%	116,533
	Share financial income	GJ	0	0%	0	0%	0
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	1,899	-94.4%	34,009	808.8%	3,742
	Released provisions and transferred charges	GM	1,919	-89.4%	18,126	0%	0
	Exchange gains	GN	29,883	-70.7%	101,931	20.3%	84,755
	Net income from disposal of investment securities	GO	65,295	391.3%	13,291	-52.6%	28,035

Financial Charge (VI)

			31/07/2011		31/07/2010		31/07/2007
	Total financial charge (Total VI)	GU	64,924	20.6%	53,812	-60.1%	134,886
	Financial reserves and provisions	GQ	6,331	229.9%	1,919	0%	0
	Interest and similar charges	GR	5,129	-75.5%	20,948	-54.4%	45,986
	Exchange losses	GS	53,464	72.8%	30,945	-65.2%	88,900
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

			31/07/2011		31/07/2010		31/07/2007
	Total extraordinary income (Total VII)	HD	10,827	101.1%	5,384	93.9%	2,776
	Extraordinary operating income	HA	4,327	-19.6%	5,384	93.9%	2,776
	Extraordinary income from capital transactions	HB	6,500	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges(VIII)

			31/07/2011		31/07/2010		31/07/2007
	Total extraordinary charges (Total VIII)	HH	13,050	196.5%	4,402	-80.4%	22,439
	Extraordinary operating charges	HE	5,234	196.7%	1,764	-90.9%	19,344
	Extraordinary charges from capital transactions	HF	7,816	196.3%	2,638	-14.8%	3,095
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing(IX)

		31/07/2011		31/07/2010		31/07/2007
Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

		31/07/2011		31/07/2010		31/07/2007
Tax on profits (Total X)	HK	33,570	-63.5%	91,864	-74.9%	366,327

References

		31/07/2011		31/07/2010		31/07/2007
Of which equipment leases	HP	9,707	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	68,056	-61.0%	174,375	36077.4%	482
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%	1,971

Display parameter
Currency	Euro	Kilo Euro

Other incomes 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)

			31/07/2011		31/07/2010		31/07/2007
	Gross value at begin of period	OG	0	0%	0	0%	1,104,480
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	183,914
	Decreasess by budget item transfer	OK1	0	0%	0	0%	30,000
	Decreasess by transfers	OK2	0	0%	0	0%	0
	Gross value at the end of period	OL	0	0%	0	0%	1,258,394

Research and development Charge (Total I)

			31/07/2011		31/07/2010		31/07/2007
	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)

			31/07/2011		31/07/2010		31/07/2007
	Gross value at begin of period	KD	0	0%	0	0%	2,620
	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%	2,620

Tangible fixed assets (Total III)

			31/07/2011		31/07/2010		31/07/2007
	Gross value at begin of period	LN	0	0%	0	0%	33,995
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	0	0%	0	0%	31,934
	Decreasess by budget item transfer	NG1	0	0%	0	0%	30,000
	Decreasess by transfers	NG2	0	0%	0	0%	0
	Gross value at the end of period	NH	0	0%	0	0%	35,929

Fiancial assets (Total IV)

			31/07/2011		31/07/2010		31/07/2007
	Gross value at begin of period	LQ	0	0%	0	0%	1,067,865
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	0	0%	0	0%	151,980
	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%	1,219,845

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

			31/07/2011		31/07/2010		31/07/2007
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	4,222
Increases		0P	0	0%	0	0%	6,553
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	10,775

Research and development charge (Total I)

			31/07/2011		31/07/2010		31/07/2007
	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)

			31/07/2011		31/07/2010		31/07/2007
	Reserve for depreciation value at begin of period	PE	0	0%	0	0%	2,620
Increases		PF	0	0%	0	0%	0
Decreasess		PG	0	0%	0	0%	0
	Decreasess by budget item transfer	PH	0	0%	0	0%	2,620

Total fixed assets amotisation(Total III)

			31/07/2011		31/07/2010		31/07/2007
	Reserve for depreciation value at begin of period	QU	0	0%	0	0%	1,602
Increases		QV	0	0%	0	0%	6,553
Decreases		QW	0	0%	0	0%	0
	Decreasess by budget item transfer	QX	0	0%	0	0%	8,155

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/07/2011		31/07/2010		31/07/2007
	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

			31/07/2011		31/07/2010		31/07/2007
	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)

			31/07/2011		31/07/2010		31/07/2007
	Value at begining of period	7C	254,014	-40.5%	427,221	-69.0%	1,379,590
Increases		UB	117,303	124.1%	52,355	-95.8%	1,235,353
Decreases		UC	1,919	-99.1%	225,561	-83.0%	1,324,155
	Value at the end of period	UD	369,398	45.4%	254,015	-80.3%	1,290,788

Includes Total allocations

Operating	UE	0	0%	0	0%	1,235,353
Financial	UG	0	0%	0	0%	0
Exceptional	UJ	0	0%	0	0%	0

Includes Total Withdrawal

Operating	UF	0	0%	0	0%	1,324,155
Financial	UH	0	0%	0	0%	0
Exceptional	UK	0	0%	0	0%	0

Total regulated provisions (Total I)

			31/07/2011		31/07/2010		31/07/2007
	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)

			31/07/2011		31/07/2010		31/07/2007
	Value at begining of period	5Z	52,355	-25.3%	70,110	-93.4%	1,059,497
Increases		TV	0	0%	52,355	-94.0%	876,007
Decreases		TW	1,919	-97.3%	70,110	-93.4%	1,059,497
	Value at the end of period	TX	50,436	-3.7%	52,355	-94.0%	876,007

Total Provision for depreciation (Total III)

			31/07/2011		31/07/2010		31/07/2007
	Value at begining of period	7B	201,659	-43.5%	357,111	11.6%	320,093
Increases		TY	117,303	0%	0	0%	359,346
Decreases		TZ	0	0%	155,451	-41.3%	264,658
	Value at the end of period	UA	318,962	58.2%	201,660	-51.4%	414,781

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

		31/07/2011		31/07/2010		31/07/2007
Gross value	VT	2,862,330	-38.8%	4,676,268	-59.8%	11,643,179
1 year at most	VU	2,355,418	-43.6%	4,175,387	-63.7%	11,489,407
More than one year	VV	506,912	1.2%	500,881	225.7%	153,772

State of loans

		31/07/2011		31/07/2010		31/07/2007
Claims related to holdings (gross)	UL	348,723	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	158,189	-68.4%	500,881	225.7%	153,771
Other financial assets (1 year at most)	UV	0	0%	0	0%	0

Receivables statement of assets

		31/07/2011		31/07/2010		31/07/2007
Customers doubtful or disputed	VA	0	0%	0	0%	164,634
Other claims customer	UX	555,480	0%	0	0%	10,321,888
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%	1,815
Social Security and other social organizations	UZ	0	0%	0	0%	849
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	909,380
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%	22,500
Accounts receivable (including claims relating to the operation of pension titles)	VR	1,744,451	-58.2%	4,175,387	50376.1%	8,272

Prepaid

		31/07/2011		31/07/2010		31/07/2007
Prepaid	VS	55,486	0%	0	0%	60,066

State Debt

			31/07/2011		31/07/2010		31/07/2007
	Total debt (gross)	VY	4,062,228	-30.7%	5,862,336	-31.9%	8,605,031
1 year at most		VZ2	4,062,228	-30.7%	5,862,336	-31.9%	8,605,031
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

			31/07/2011		31/07/2010		31/07/2007
	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%	27,589	-85.1%	185,361
1 year at most		VG2	0	0%	27,589	-85.1%	185,361
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	12,352	-94.6%	230,227	0%	0
1 year at most		8A2	12,352	-94.6%	230,227	0%	0
More than 1 year and 5 years at most		8A3	0	0%	0	0%	0
	Suppliers and associated accounts (gross)	8B1	3,488,480	-18.6%	4,285,486	59.5%	2,686,846
1 year at most		8B2	3,488,480	-18.6%	4,285,486	59.5%	2,686,846
More than 1 year and 5 years at most		8B3	3,488,480	-18.6%	4,285,486	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	18,520
1 year at most		8C2	0	0%	0	0%	18,520
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	41,471	-7.6%	44,861	193.0%	15,310
1 year at most		8D2	41,471	-7.6%	44,861	193.0%	15,310
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	179,820
1 year at most		8E2	0	0%	0	0%	179,820
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	720
1 year at most		VW2	0	0%	0	0%	720
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%	71,051
1 year at most		VQ2	0	0%	0	0%	71,051
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	34,252	0%	34,252	3.0%	33,262
1 year at most		8J2	34,252	0%	34,252	3.0%	33,262
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%	631,559
1 year at most		VI2	0	0%	0	0%	631,559
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	485,670	-60.8%	1,239,919	-74.1%	4,782,577
1 year at most		8K2	485,670	-60.8%	1,239,919	-74.1%	4,782,577
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

		31/07/2011		31/07/2010		31/07/2007
Loans made during the period	VJ	0	0%	0	0%	185,361
Debt repaid during the period	VK	0	0%	0	0%	162,717

Table allocation results and other information
Dividends distributed

		31/07/2011		31/07/2010		31/07/2007
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/07/2011		31/07/2010		31/07/2007
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

		31/07/2011		31/07/2010		31/07/2007
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

		31/07/2011		31/07/2010		31/07/2007
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

		31/07/2011		31/07/2010		31/07/2007
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

		31/07/2011		31/07/2010		31/07/2007
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/07/2011		31/07/2010		31/07/2007
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

		31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Fixed Asset Financing		2.53	-20.9%	3.20	-31.5%	4.67	2.63	-3.8%
Global Debt		180days	-39.6%	298days	34.2%	222days	117days	53.8%
Working Capital Fund overall net		145days	-25.6%	195days	63.9%	119days	86days	68.6%
Financial independence		41382.67%	1993.7%	1976.52%	275.5%	526.41%	213.66%	19268.5%
More ratios
Solvability		55.41%	19.8%	46.27%	48.6%	31.14%	46.47%	19.2%
Capacity debt futures		%	-	18470.34%	696.1%	2319.98%	1565.94%	-
Coverage of current assets by net working capital overall		33.24%	15.2%	28.85%	-19.0%	35.61%	48.50%	-31.5%
General Liquidity		0.58	-18.3%	0.71	-47.0%	1.34	0.78	-25.6%
Restricted Liquidity		1.59	5.3%	1.51	10.2%	1.37	1.50	6.0%

Management or rotation

		31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Need background in operating working capital		-39days	11.4%	-44days	-138.6%	114days	16days	-343.8%
Treasury		182days	-22.9%	236days	5800%	4days	13days	1300%
Inventory turnover of goods		69days	38.0%	50days	35.1%	37days	30days	130.0%
Average length of credit granted to customers		25days	-78.1%	114days	-57.8%	270days	52days	-51.9%
Average length of credit obtained suppliers		161days	-26.1%	218days	186.8%	76days	42.50days	278.8%
More ratios
Inventory turnover of raw materials in industrial enterprises		0days	0%	0days	0%	0days	0days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise		days	-	days	-	days	1539days	-
Rotation tangible assets		%	-	%	-	38882.26%	1348.51%	-

Profitability of the business

		31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Margin trading		28.73%	24.3%	23.12%	25.4%	18.43	0%	0%
Profitability of the business		1.45	131.5%	-4.60	-165.1%	7.07	5.84%	-75.2%
Net profit		0.19%	171.4%	0.07%	-98.5%	4.75%	3.76%	-94.9%
More ratios
Growth rate of turnover (excluding VAT)		14.83%	130.1%	-49.31%	-184.3%	58.49%	0%	0%
Rates integration		4.15%	1975.0%	0.20%	-97.8%	9.23%	45.27%	-90.8%
Rate leasing furniture		0.12%	0%	0%	0%	0%	0%	0%
Work Factor		53.64%	-96.4%	1495.94%	9601.3%	15.42%	68.68%	-21.9%
Weight interests		0.80	5.3%	0.76%	-21.6%	0.97%	0.11%	627.3%

Return on capital

		31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Cash flow from the overall profitability		0.99%	120.0%	0.45%	109.7%	-4.66%	4.92%	-79.9%
Rates of economic profitability		2%	133.3%	-6%	-131.6%	19%	16.11%	-87.6%
Financial profitability		5111588%	0.3%	5095782%	18.5%	4300338%	25712%	19780.2%
Return on investment		1.58%	43.6%	1.10%	-93.0%	15.61%	13.21%	-88.0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/07/2011		31/07/2010		31/07/2007	Sector Median2011
Turnover	8,131,735	14.8%	7,081,381	-49.3%	13,970,008	175,152 €	4542.7%

Sales of goods	8,121,859	14.7%	7,078,783	-48.6%	13,767,410
- Purchase of goods	6,143,065	10.8%	5,546,418	-52.6%	11,705,121
+/- Stock of goods variation	-357,378	-241.4%	-104,689	79.6%	-512,822
Trading margin	2,336,172 €	42.7%	1,637,054 €	-36.4%	2,575,111 €	0 €	0%
	28.73 % CA	24.3%	23.12 % CA	25.4%	18.43 % CA	0 % CA	0%

Sale of goods produced	9,876	280.1%	2,598	-98.7%	202,598
+/- Stocked production	0	0%	0	0%	0
+ Self-constructed assets	0	0%	0	0%	0
Period production	9,876 €	280.1%	2,598 €	-98.7%	202,598 €	100,742 €	-90.2%
	0.12 % CA	200%	0.04 % CA	-97.2%	1.45 % CA	100 % CA	-99.9%

Trading margin	2,336,172	42.7%	1,637,054	-36.4%	2,575,111	0	0%
+ Period Production	9,876	280.1%	2,598	-98.7%	202,598	100,742	-90.2%
- Purchase of raw materials	74,259	5.3%	70,510	158.8%	27,243
+/- Change in stocks of raw materiels	0	0%	0	0%	0
- Other external purchases and charges	1,934,262	24.4%	1,555,218	6.5%	1,460,687
Added value	337,527 €	2324.1%	13,924 €	-98.9%	1,289,779 €	79,443 €	324.9%
	4.15 % CA	1975.0%	0.20 % CA	-97.8%	9.23 % CA	45.27 % CA	-90.8%

Added value	337,527 €	2324.1%	13,924 €	-98.9%	1,289,779 €	79,443 €	324.9%
+ Operating grants	0	0%	0	0%	0
- Tax, duty and similar payments	38,599	-70.7%	131,531	28.3%	102,542
- Personal charges	181,066	-13.1%	208,294	4.7%	198,862
Gross operating surplus	117,862 €	136.2%	-325,901 €	-133.0%	988,375 €	11,648.50 €	911.8%
	1.45 % CA	131.5%	-4.60 % CA	-165.1%	7.07 % CA	5.84 % CA	-75.2%

Gross operating surplus	117,862 €	136.2%	-325,901 €	-133.0%	988,375 €	11,648.50 €	911.8%
+ Release of reserves and provisions	68,056	-82.2%	381,811	-71.2%	1,324,637
+ Other operating income	30	0%	0	0%	71
- Depreciation/Amortisation	168,360	132.1%	72,530	-94.2%	1,241,906
- Other charges	60	-93.5%	923	-69.8%	3,056
Operating result	17,528 €	199.9%	-17,543 €	-101.6%	1,068,121 €	8,954 €	95.8%
	0.22 % CA	188.0%	-0.25 % CA	-103.3%	7.65 % CA	4.30 % CA	-94.9%

Operating result	17,528 €	199.9%	-17,543 €	-101.6%	1,068,121 €	8,954 €	95.8%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	98,996	-40.8%	167,357	43.6%	116,533
- Financial charges	64,924	20.6%	53,812	-60.1%	134,886
Pre-tax result	51,600 €	-46.3%	96,002 €	-90.9%	1,049,768 €	7,282.50 €	608.5%
	0.63 % CA	-53.7%	1.36 % CA	-81.9%	7.51 % CA	4.08 % CA	-84.6%

Extraordinary income	10,827	101.1%	5,384	93.9%	2,776	0	0%
- Extraordinary charges	13,050	196.5%	4,402	-80.4%	22,439
Extraordinary result	-2,223 €	-326.4%	982 €	105.0%	-19,663 €	0 €	0%
	-0.03 % CA	-400%	0.01 % CA	107.1%	0 % CA	0 % CA	0%

Pre-tax result	51,600 €	-46.3%	96,002 €	-90.9%	1,049,768 €	7,282.50 €	608.5%
Extraordinary result	-2,223 €	-326.4%	982 €	105.0%	-19,663 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	33,570	-63.5%	91,864	-74.9%	366,327
Net result	15,807 €	208.7%	5,120 €	-99.2%	663,778 €	7,191 €	119.8%
	0.19 % CA	171.4%	0.07 % CA	-98.5%	4.75 % CA	3.76 % CA	-94.9%

FOREIGN EXCHANGE RATES

Na

ADDITIONAL INFORMATION

Last published preferential right	This company is not under monitoring
Collection of preferential rights for this company has been stopped by the Court

Trends

Profitability

Liquidity

Net worth

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

Preferential rights details and history

Summary of preferential rights

Company monitored since	17/11/2010	Monitored stopped since	17/11/2013
Status of Monitoring	Collection of preferential rights for this company has been stopped by the Court

Event history

Status history

Date	Description
01/09/2012	Economically active

Recent publications in Gazettes

Publication date	Gazette Name	Description
03/04/2013	Bodacc B	Modification et mutation diverse

45 - LOIRET GREFFE DU TRIBUNAL DE COMMERCE D'ORLÉANS 549 - 328 466 313 RCS Orléans. HMD. Forme : Société par actions simplifiée. Activité : . Adresse du siège social : rue des Sablons, 45140 Ormes. Commentaires : Transfert du siège social.
03/03/2013	JAL	Head Office Transfer
Moniteur de Seine et Marne (Le) Date de décision : 31/08/2012 Transfert du siège social de la société 328466313 -  H.M.D Adresse du nouveau siège : RUE DES SABLONS, 45140 ORMES Ancienne localisation : 6 DOM DES BELLINGANTS, 77210 AVON Date d'effet : 01/09/2012
07/05/2012	Bodacc C	Comptes annuels et rapports
77 - SEINE-ET-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE MELUN 11630 - 328466313 RCS. HMD. Forme : Société par actions simplifiée. Adresse : 6 domaine des Bellingants 77210 Avon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2011.
14/03/2011	Bodacc C	Comptes annuels et rapports
77 - SEINE-ET-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE MELUN 8145 - 328466313 RCS. HMD. Forme : Société par actions simplifiée. Adresse : 6 domaine des Bellingants 77210 Avon. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2009.
07/10/2009	Bodacc A	Immatriculation
77 - SEINE-ET-MARNE GREFFE DU TRIBUNAL DE COMMERCE DE MELUN 1102 - 328 466 313 RCS Melun. HMD. Forme : Société par actions simplifiée. Administration : Président de la société : PROVOT Jean-Charles Paul Commissaire aux comptes titulaire : SOCIETE IREC Commissaire aux comptes suppléant : LEMARCHAND Nicole. Capital : 182938.82 EUR. Adresse : 6 domaine des Bellingants, 77210 Avon. Etablissement : Siège social et établissement principal. Activité : Représentation agence et courtage de toutes matières textiles en France et à l'étranger. Adresse : 6 domaine des Bellingants, 77210 Avon. A dater du : 22/09/2009. Date de commencement de l’activité : 20/12/1983. Descriptif : Immatriculation d'une personne morale suite à transfert de son siège social hors ressort. Commentaires : Immatriculation d'une personne morale suite à transfert de son siège social. Date d’effet : 17/08/2009.
08/06/2008	Bodacc C	Comptes annuels et rapports
91 - ESSONNE GREFFE DU TRIBUNAL DE COMMERCE D'EVRY 7151 - 328466313 RCS. HMD. Forme : Société par actions simplifiée. Adresse : 1 rue Diderot Zac des Radars, 91350 Grigny. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/07/2007.
30/06/2007	Bodacc C	Avis de dépôt des comptes
4992 - 328 466 313. RCS Evry HMD. Forme: Société par actions simplifiée. Adresse du siège social: 1 rue Diderot Zac des Radars, 91350 Grigny. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2006.
21/06/2006	Bodacc C	Avis de dépôt des comptes
5163 - RCS Evry B 328 466 313. RC 83-B 1177. HMD. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE - SAS. Adresse du siège social: Z.A.C. des Radars 1, rue Diderot,91350 Grigny. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2005.
20/05/2005	Bodacc C	Avis de dépôt des comptes
4786 - RCS Evry B 328 466 313. RC 83-B 1177. HMD. Forme: SOCIETE PAR ACTIONS SIMPLIFIEE. Adresse du siège social: Z.A.C. des Radars 1, rue Diderot,91350 Grigny. Comptes annuels et rapports de l'exercice clos le: 31 juillet 2004.
19/11/2000	Bodacc B	Modifications et mutations diverses
RCS Evry B 328466313 RC 83-B 1177 H.M.D. Forme : S.A.S. Commentaires : modification survenue sur la forme juridique et l' administration. Administration : P.-D.G. partant : DJIAN (Michel). Nomination du président : PROVOT (Jean-Charles, Paul). Administrateurs partants : VENIEL ( Michel) BARMAN (Marie, Madeleine) ( Nom d'usage : DJIAN). Modification du commissaire aux comptes titulaire : IREC-INSTITUT DE REVISION ET D' EXPERTISE COMPTABLE. Modification du commissaire aux comptes suppléant : BAUDIN (Nicole).
06/04/1997	Bodacc B	Modifications et mutations diverses
RCS Evry B 328 466 313 RC 83-B 1177 H.M. D. Forme : S.A. Adresse du siège social : Z. A.C. des Radars, 1 rue Diderot 91350 Grigny. Commentaires : modification survenue sur l'adresse du siège social et l'adresse de l'établissement principal Etablissement principal: Adresse : Z.A.C. des Radars, 1 rue Diderot 91350 Grigny.
22/03/1996	Bodacc B	Modifications et mutations diverses
RCS *. RCS Corbeil B 328 466 313 RC RC 83-B 1177 H.M.D. Forme : S.A. Capital : 1 200 000 F. Administration : président- directeur général : DJIAN (Michel) Administrateurs : VENIEL (Michel) BARMAN (Marie-Madeleine). Commissaire aux comptes titulaire : IREC - INSTITUT DE REVISION ET D'EXPERTISE COMPTABLE. Commissaire aux comptes suppléant : BAUDIN (Nicole). Commentaires : modification survenue sur le capital et l'administration.

Company events history

Date	Description
29/05/2014	Payment incident closed
18/02/2014	Payment incident detected
17/11/2013	Collection of preferential rights for this company has been stopped by the Court
06/09/2013	New subsidiarie(s) detected
06/09/2013	New ultimate parent
06/09/2013	New parent detected
03/04/2013	Bodacc B: Various editing or changing
12/03/2013	Updated articles of association
12/03/2013	Registered office transferred inside jurisdiction of the Commercial Court
12/03/2013	Minutes of general meeting of shareholders
03/03/2013	Legal Gazette: Head Office Transfer
01/09/2012	Update of Company Activity
01/09/2012	Update of Company Workforce
01/09/2012	Update of Company Head Office Identifier
01/09/2012	Transfer of Establishment
07/05/2012	Bodacc C : Deposit accounts notice
01/05/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
31/07/2011	New accounts available
14/03/2011	Bodacc C : Deposit accounts notice
17/11/2010	Collection of preferential rights activated for this company
31/07/2010	New accounts available
14/10/2009	Payment incident closed
07/10/2009	Bodacc A : Registration
22/09/2009	Transfert du Siège dans le ressort du Tribunal de Commerce
22/09/2009	Acte modificatif
22/09/2009	Registered office transferred inside jurisdiction of the Commercial Court
22/09/2009	Updated articles of association
22/09/2009	Statuts mis à jour
23/07/2009	Payment incident detected
24/12/2008	Payment incident closed
20/10/2008	Payment incident detected
08/06/2008	Bodacc C : Deposit accounts notice
31/07/2007	New accounts available
15/09/2006	Formation of Establishment
31/07/2006	New accounts available
31/07/2005	New accounts available
31/07/2004	New accounts available
31/07/2003	New accounts available
26/06/2003	Acte sous seing privé
26/06/2003	Changement de date de clôture
26/06/2003	Statuts mis à jour
26/06/2003	PV d'Assemblée
06/11/2000	PV d'Assemblée
06/11/2000	Nomination/démission des organes de gestion
06/11/2000	Acte sous seing privé
06/11/2000	Changement de Président (PDG, PCA)
06/11/2000	Changement de Forme Juridique avec changement de catégorie
06/11/2000	Changement de Forme Juridique sans changement de catégorie
06/11/2000	Acte modificatif
06/11/2000	Rapport des Commissaires ou du Gérant
06/11/2000	Statuts mis à jour
21/03/1997	Statuts mis à jour
21/03/1997	PV d'Assemblée
21/03/1997	Transfert du Siège dans le ressort du Tribunal de Commerce
21/03/1997	Acte sous seing privé
08/10/1996	PV du Conseil d'Administration
08/10/1996	Acte modificatif
08/10/1996	Nomination/démission des organes de gestion
08/10/1996	Acte sous seing privé
08/10/1996	PV d'Assemblée
05/03/1996	Augmentation de Capital
05/03/1996	Nomination/démission des organes de gestion
05/03/1996	PV d'Assemblée
05/03/1996	Changement de date de clôture
05/03/1996	Modification du Conseil d'Administration
05/03/1996	Acte modificatif
05/03/1996	Statuts mis à jour
18/04/1994	Statuts mis à jour
18/04/1994	Modification du Conseil d'Administration
18/04/1994	Déclaration de conformité
18/04/1994	Nomination/démission des organes de gestion
18/04/1994	PV d'Assemblée
18/04/1994	Augmentation de Capital
18/04/1994	Acte modificatif
18/04/1994	PV du Conseil d'Administration

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.39
UK Pound	1	Rs.98.00
Euro	1	Rs.76.99

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	SDA

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.