Operating profit improved by DKK 11 million to DKK 187 million (DKK 176 million) corresponding to an EBIT margin of 10.5% compared to 9.8%reported in H1 2012/13. After having adjusted for costs incurred in H1 2013/14 in connection with changes to the Group and brand management, the operating profit amounted to DKK 200 million corresponding to an EBIT margin of 11.3%. The operating profit for Q2 2013/14 amounted to DKK 28 million (DKK 10 million).
Updated outlook for continuing operations for 2013/14
The Group’s Premium brands are expected to continue the positive development and generate solid growth rates for 2013/14 whereas the Mid Market segment is expected to suffer a revenue setback.
Consequently, the Group Management thus expects the consolidated revenue from continuing operations for 2013/14 to attain a level of DKK 3,315 - 3,350 million.
However, earnings are expected to increase in all segments, and the consolidated operating profit for the financial year 2013/14 is thus expected to attain a level of DKK 210 - 240 million.
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.
In the Annual Report 2012/13 the Group Management announced that it expected to distribute an extraordinary dividend of DKK 100 million. The earnings development of the Group’s continuing operations for H1 2013/14 has been as expected, and the Group Management therefore expects to distribute a dividend of DKK 100 million to the shareholders in March 2014 pursuant to the rules of the Danish Companies Act. Further information on this extraordinary dividend will be announced through a company announcement beforehand.
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