IC Group reports 11.2 percent decline in revenues

IC Group has announced that revenue of the group's continuing operations for Q1 to Q3 amounted to 827 million Danish krona (124 million dollars) corresponding to a reduction of 11.2 percent or 9 percent in local currency) driven by both the wholesale channel as well as the retail channel. The operating profit before central functions and non-recurring costs amounted to 22 million Danish krona (3.3 million dollars) compared to 79 million Danish krona corresponding to an EBIT margin of 2.7 percent against 8.5 percent in the same period last year. The group generated an operating loss of 13 million Danish krona (1.9 million dollars) corresponding to an negative EBIT margin of 1.6 percent against positive EBIT margin of 10.8 percent last year.