Home / Knowledge / News / Apparel/Garments / IC Companys posts marginal hike in Q3FY'13 sales
IC Companys posts marginal hike in Q3FY'13 sales
15
May '13
Fashion brand IC Companys reports its third quarter results.

Consolidated revenue from continuing activities for Q3 2012/13 amounted to DKK 906 million which is an improvement of 1% compared to last financial year.

The Group’s gross margin improved by 3 percentage points and the operating profit amounted to DKK 79 million corresponding to an increase of 24%. In spite of the challenging market conditions, the overall performance for Q3 2012/13 was in line with expectations.

Revenue from the Premium Outdoor segment declined by 6% to DKK 268 million (DKK 285 million) primarily as a consequence of the reduced order intake for the spring collection as well as the continued challenging market situation, in particular for the segment’s wholesale customers. The Premium Outdoor operating profit amounted to DKK 27 million (DKK 31 million).

Revenue from the Premium Contemporary segment rose by 15% to DKK 293 million (DKK 254 million). In particular, this growth rate was attributable to the segment’s wholesale channel, but also the retail channel experienced growth. The Premium Contemporary operating profit amounted to DKK 34 million (DKK 25 million).

Revenue from the Mid Market Contemporary segment suffered a setback of 6% to DKK 239 million (DKK 253 million), but at the same time the segment increased its operating profit by DKK 1 million to DKK 11 million.

The gross margin increased by 3 percentage points to 57% and the gross profit rose by DKK 32 million.

After having adjusted for non-recurring costs of DKK 8 million, the capacity costs were largely at the same level as Q3 2011/12. In total, the cost rate amounted to 48% (47%).

Operating profit amounted to DKK 79 million (DKK 64 million) corresponding to an EBIT margin of 8.8% (7.1%) in respect of continuing activities.

From continuing activities consolidated cash flow from operating and investing activities amounted to an outflow of DKK 53 million (an outflow of DKK 68 million) corresponding to an increase of DKK 15 million due to lower tied-up working capital.

Unchanged outlook for continuing activities for 2012/13

The Group’s outlook for continuing activities is unchanged. The outlook has been adjusted for discontinuing activities.

The Management expects the consolidated revenue from continuing activities for the financial year 2012/13 to attain a level of DKK 3,250 - 3,300 million and the consolidated operating profit for the financial year 2012/13 to attain a level of DKK 170 - 200 million excluding any non-recurring costs to be recognised in Q4 2012/13.

Investments for the financial year 2012/13 are expected to attain the same level as for the financial year 2011/12. The investments will primarily be employed to strengthen the distribution platforms in Premium Outdoor and Premium Contemporary.

IC Companys


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search