IC Group reports annual revenue growth of 2.9 percent

The IC Group’s continuing operations generated revenue of 2,638million Danish krona (397.9 million dollars) for 2014/15 corresponding to an increase of 2.9 or 4.9 percent in local currency. The operating profit of 207 million Danish krona (31.2 million dollars) was in line with expectations. The Board of Directors has proposed an ordinary dividend of 68 million Danish krona (10.2 million dollars) corresponding to 4 Danish krona (0.60 dollar) per share.

Commenting on the company’s performance, Group CEO Mads Ryder said, “We have a clear and well-defined focus on the premium segment, and we have three strong brands which have delivered solid and satisfactory results during this financial year. They all show a strong potential for further international expansion.”

All brands report revenue growth

Peak Performance generated a revenue of 953 million Danish krona (143.9 million dollars) corresponding to a growth rate of 2.5 percent or 4.1 percent in local currency. The operating profit amounted to 107 million Danish krona (16.1 million dollars) corresponding to an EBIT margin of 11.2 percent.

Tiger of Sweden generated a revenue of 943million Danish krona (142.3 million dollars) corresponding to a growth rate of 6.9 percent or 10.1 percent in local currency. The operating profit amounted to 112 million Danish krona (16.9 million dollars) and the EBIT margin was thus improved from 10.5 percent to 11.9 percent.

By Malene Birger generated a revenue of 342 million Danish krona (51.6 million dollars) corresponding to a growth rate of 4.8 percent or 6 percent in local currency. The operating profit amounted to 29 million Danish krona (4.3 million dollars) and was thus in line with the level of last financial year, as was the EBIT margin which amounted to 8.5 percent.

The Group’s Non-core business, which failed to meet expectations, declined 5.8 percent or 5 percent in local currency.

Expects positive development for 2015/16

The Group expects its core business to continue its positive development, and thereby driving the Group’s overall revenue and earnings growth. Specifically, the Group expects revenue to increase by approximately 4 percent and the EBIT margin to settle at approximately 10 percent.

Provided that the Group’s performance is in line with expectations, the Board of Directors expects to distribute an extraordinary dividend of about 75 million Danish krona (11.3 million dollars) during the financial year 2015/16.