IC Companys revenue down 3% in H1 FY'13

Management still expects challenging market conditions for the financial year 2012/13 which particularly will affect the Mid Market segment. However, the pressure on the Group’s gross margin is expected to abate in 2012/13. The ongoing cost saving measures will continue.

The strategic initiatives may have consequences for the outlook for the financial year 2012/13 in terms of non-recurring income and costs. However, is is not possible to estimate the effects yet.

When excluding the possible effects from the mentioned strategic initiatives, Management expects the consolidated revenue for the financial year 2012/13 to attain at a level of DKK 3,700-3,750 million (previously announced: lower revenue compared to the financial year 2011/12) and the consolidated operating profit for the financial year 2012/13 to attain a level of DKK 140-170 million (previously announced: at the same or a higher level compared to the financial year 2011/12).

Investments for the financial year 2012/13 are expected to attain the same level as the financial year 2011/12. The investments are primarily expected to be utilised for an expansion of the distribution in the Premium segment.

Chief Executive Officer of IC Companys A/S Niels Mikkelsen commented;

“By setting up three business segments and divesting the brands Jackpot and Cottonfield, we continue the path of simplifying the Group in order to enhance its growth and earnings capacity.”

IC Companys