IC Companys reports revenue rise of 6 percent in FY14

REPORT_ Consolidated revenue of continuing operations for 2013/14 amounted to 2,563 million Danish Krone (455.3 million dollars) corresponding to an increase of 6 percent compared to 2012/13 and consolidated operating profit amounted to 221 million Danish Krone (39.2 million dollars).

Consequently, Management has proposed that an ordinary dividend of 49 million Danish Krone or 3 Danish Krone (8.7 million dollars or 0.53 dollars) per eligible share is distributed in respect of the financial year 2013/14.

Commenting on the fiscal year results, Group CEO of IC Companys A/S Mads Ryder said, “We have simplified the business and improved earnings. This year we see the impact from these efforts and have generated solid results. With our three Premium brands we have achieved a strong foundation for continuous growth and earnings. The course is set, and we must realize the defined targets. However, the financial year 2014/15 will be a year characterized by cost adjustments.”

Tiger of Sweden realized a revenue growth of 15 percent and an EBIT margin of 10.9 percent. By Malene Birger realized a revenue growth rate of 10 percent and an EBIT margin of 8.3 percent). Consolidated gross profit of continuing operations for 2013/14 amounted to 1,470 million Danish Krone (261.1 million dollars) and the Group thus realized a gross margin of 57.3 percent corresponding to an improvement of 0.7 percentage points compared to last financial year.

The Group’s premium brands – in particular Tiger of Sweden and By Malene Birger - are expected to continue the positive development seen in 2013/14, and consequently, the total consolidated revenue is expected to be higher for the financial year 2014/15. All of the Group’s Premium brands are expected to improve their EBIT for the financial year 2014/15. The non-core business is expected to maintain its profitability. Provided that the consolidated results are in line with expectations, Management expects to distribute dividend of approximately 100 million Danish Krone (17.8 million dollars) during the financial year 2014/15.