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

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Courtesy: AAFA

Fashion | On 28th Apr 2017

Andrew Rosen, Stuart Vevers among AAFA awardees

Andrew Rosen, founder and CEO of Theory, Stuart Vevers of Coach, Nick ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X