Home / Knowledge / News / Apparel/Garments / IC Companys Q3'FY14 revenues up 7% to DKK 49mn
IC Companys Q3'FY14 revenues up 7% to DKK 49mn
15
May '14
IC Companys announces results for third quarter of fiscal 2014. On 27 March 2014 IC Companys entered into an agreement to sell its Mid Market division to DK Company A/S. The Group’s continuing operations subsequently consist of the three Premium brands Peak Performance, Tiger of Sweden og By Malene Birger as well as the non-core business comprising the brands Designers Remix and Saint Tropez.
 
Consolidated revenue from continuing operations for Q3 2013/14 amounted to DKK 716 million which is an increase of DKK 49 million, or 7%, compared to Q3 2012/13. In particular the two Premium segments reported higher re-venues. The Group’s gross margin amounted to 55.9% for Q3 2013/14 and was thus at a lower level compared to Q3 2012/13. The operating profit for Q3 2013/14 amounted to DKK 87 million which is an improvement of DKK 19 million compared to Q3 2012/13. 
 
Revenue from the Premium Outdoor segment for Q3 2013/14 amounted to DKK 278 million (DKK 268 million) corresponding to a growth rate of 4%. The segment has reported satisfactory growth in sales to the wholesale customers whereas sales in the retail channel have been disappointing. The Premium Outdoor operating profit for Q3 2013/14 amounted to DKK 38 million (DKK 27 million).
 
Revenue from the Premium Contemporary segment rose by 13% to DKK 331 million (DKK 293 million). This growth rate was particularly attributable to the segment’s wholesale channel as well as insourcing of Tiger of Sweden’s accessory line. The Premium Contemporary operating profit for Q3 2013/14 amounted to DKK 42 million (DKK 34 million).
 
The gross margin of continuing operations amounted to 55.9% for Q3 2013/14 compared to 56.5% for Q3 2012/13. The primary reason for this development can be ascribed the foreign currency translation effects.
 
The capacity costs rose by DKK 5 million to DKK 313 million. However, the development in costs combined with a higher revenue resulted in a 2.5 percentage points decline of the cost rate to 43.7% (46.2%).
 
Operating profit improved by 28% to DKK 87 million (DKK 68 million). The EBIT margin was thus improved from 10.3% reported in Q3 2012/13 to 12.2% in Q3 2013/14. This development is attributable to a higher revenue which more than compensates the lower gross margin and the increased capacity costs.

Must ReadView All

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Rajiv Sirohi
Shara

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

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Judy Frater
Somaiya Kala Vidya

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

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

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search