Home / Knowledge / News / Apparel/Garments / Revenue at retailer IC Companys up 6% in 2013/14
Revenue at retailer IC Companys up 6% in 2013/14
22
Aug '14
Consolidated revenue from continuing operations at Swedish clothing retailer IC Companys for fiscal year 2013/14 rose 6% to DKK 2,563 million from DKK 2,424 million in 2012/13.

IC Companys had earlier issued a sales guidance in the range of DKK 2,560 – 2,580 million.

Consolidated gross profit from continuing operations for 2013/14 totalled to DKK 1,470 million against DKK 1,371 million in the previous fiscal year.

In 2013/14, IC Companys realized a gross profit margin of 57.3% compared to 56.6% last fiscal year, which reflects an improvement of 0.7 percentage points, when compared to last financial year.

Selling expenses amounted to DKK 1,249 million in 2013/14, up 6% from DKK 1,180 million in 2012/13. Selling expenses as a percentage of sales stood at 48.7%, the same as in 2012/13.

Consolidated operating profit from continuing operations in 2013/14 rose to DKK 221 million from DKK 191 million, in the earlier year, thereby realising EBIT margin of 8.6% against 7.9% in prior fiscal year.

IC Companys reported cash flow from operating and investing activities rising by DKK 106 million to DKK 165 million in 2013/14 compared to DKK 59 million last year, which it said was primarily due to a higher operating profit as well as a lower level of investments.

Investments in continuing operations for 2013/14 fell to DKK 91 million from DKK 167 million, from a year ago period. In its guidance, IC Companys had forecasted a range of DKK 70-90 million.

At its AGM, IC Companys said it will propose and recommend dividend of DKK 3.00 per share corresponding to a total dividend of DKK 49 million for 2013/14.

In its outlook for 2014/15, IC Companys expects that its two brands - Tiger of Sweden and By Malene Birger will continue to grow on the positive development seen in 2013/14 and consequently expects revenue to be higher for 2014/15.

IC Companys also expects that all premium brands in its portfolio will improve their EBIT for the financial year 2014/15, while the non-core business is also expected to maintain its profitability.

However, IC Companys said, the consolidated operating profit for 2014/15 will be affected by selling expense costs which until recently were paid by the Mid Market division, which total to around DKK 45 million.

Considering that, IC Companys has undertaken to provide services to DK Company during a transition period of 6-12 months, these selling expenses will be reduced gradually during 2014/15 in order to not impact on the financial year 2015/16.

Provided that the consolidated results are in line with expectations, IC Companys may distribute an extraordinary dividend of around DKK 100 million during 2014/15.

Group CEO Mads Ryder said, “We have simplified the business and improved earnings. This year we see the impact from these efforts and have generated solid results. With our three premium brands we have achieved a strong foundation for continuous growth and earnings.”

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

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

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
January 2017

January 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