IC Company Q3 revenues up 7 percent

REPORT_ IC Company’s consolidated revenue from continuing operations for Q3 2013/14 amounted to 716 million Danish Krone

(131.6 million dollars) which is an increase of 49 million Danish Krone (9 million dollars) or 7 percent, compared to Q3 2012/13. The two premium segments reported higher re-venues. Revenue from the premium outdoor segment for Q3 2013/14 increased 4 percent. Revenue from the premium contemporary segment rose by 13 percent.

The group’s gross margin amounted to 55.9 percent for Q3 2013/14 and was thus at a lower level compared to Q3 2012/13. The operating profit for Q3 2013/14 amounted to 87 million Danish krone (15.9 million dollars) which is an improvement of 19 million Danish Krone (3.4 million dollars) compared to Q3 2012/13. Operating profit improved by 28 percent and the EBIT margin thus improved from 10.3 percent reported in Q3 2012/13 to 12.2 percent in Q3 2013/14.

On March 27, 2014 IC Company headquartered in Copenhagen, announced that it had sold its mid-market division to DK Company. Pursuant to the agreement, DK Company has acquired the entire division including all trademarks, commercial rights and obligations as well as employees and retail stores.

In connection with the announcement of the sale of the Mid Market division the group specified that its outlook for continuing operations for 2013/14 remains unchanged. The consolidated revenue from continuing operations for 2013/14 is expected to attain a level of 2,560 – 2,580 million Danish Krone (470.4-474.2 million dollars). The consolidated operating profit for the financial year 2013/14 is expected to attain a level of 195 – 215 million Danish Krone (35.8-39.5 million dollars).