• Home
  • News
  • Business
  • IC Group sells its 51 percent stake in Designers Remix

IC Group sells its 51 percent stake in Designers Remix

By Prachi Singh

loading...

Scroll down to read more

Business

IC Group A/S has said in a statement that the company has divested all of its 51 percent stake in Designers Remix A/S to Hesselbjerg Holding A/S, which is controlled by Niels and Charlotte Eskildsen.

For the financial year 2018/19, IC Group expects a flat revenue development from the continuing operations in total, measured in local currency. The EBIT margin, the company added, is expected to be realized at a level of 0-1 percent, prior to non-recurring costs in respect of the transformation of the group structure.

Investments for the financial year 2018/19 are expected to amount to approximately 4 percent of annual revenue primarily driven by Tiger of Sweden.

For its first quarter, revenue of the company’s continuing operations amounted to 379 million Danish krone corresponding to a reduction of 18.3 percent or 15.8 percent measured in local currency.

Picture:Designer Remix website

DESIGNERS REMIX
IC Group