IC Companys posts marginal hike in FY'13 sales

Cash flow from operating and investing activities of continuing operations rose by DKK 47 million to DKK 183 million (DKK 136 million).

Investments for 2012/13 amounted to DKK 66 million (DKK 108 million) and were lower than expected (the last reported outlook indicated a level of DKK 80-100 million) which is primarily attributable to a temporary difference of IT investments and leasehold improvements.

Outlook for 2013/14

The Group’s Premium brands are expected to continue the positive development and generate solid growth rates for 2013/14. As a consequence of the challenges in the Group’s Mid Market segment, which is expected to suffer a revenue setback, the total consolidated revenue growth for 2013/14 is expected to be modest.

However, earnings are expected to be improved in all segments and the total consolidated earnings are consequently expected to increase significantly compared to DKK 157 million realised in 2012/13.

Investments for the financial year 2013/14 are expected to attain a level of DKK 70-90 million primarily for an expansion of the distribution in the two Premium segments.

The Board of Directors recommends that a dividend of DKK 2.00 per ordinary share eligible for dividend is distributed to the shareholders corresponding to a total dividend of DKK 33 million.

Furthermore, during the financial year 2013/14 Management expects to distribute DKK 100 million through a combination of share buy-back and extraordinary dividend.

Group CEO of IC Companys A/S Mads Ryder commented;

“The corporate strategy is finalised and the targets are set. Earnings must improve. Our Premium brands, which all hold great potentials, must continue the expansion they have embarked on, and the Mid Market segment must put higher focus on its earnings capacity in the core markets. I look forward to heading IC Companys and fulfilling the target of future improved earnings.”

IC Companys