Home / Knowledge / News / Apparel/Garments / IC Companys posts interim report for July'09-Mar'10
IC Companys posts interim report for July'09-Mar'10
12
May '10
The Board of Directors of IC Companys A/S has approved the consolidated interim report for the period 1 July 2009 – 31 March 2010 at a Board Meeting held on 11 May 2010.

Consolidated net revenue for Q3 2009/10 decreased modestly by 1% to DKK 996 million. The positive development of the Group's retail revenue continued into Q3. The Group's gross margin has been under considerable pressure due to foreign exchange movements. Improved efficiency has, however, absorbed the majority of these negative effects generated by exchange movements and the consolidated operating profit thus amounted to DKK 96 million corresponding to an EBIT margin of 9.6%

Statement By The Management
The Board of Directors and the Executive Board have considered and approved the interim financial report for the period 1 July 2009 – 31 March 2010.

The interim financial report is unaudited and has been prepared in accordance with IAS 34 ”Interim Financial Reporting” as adopted by the EU, cf. section on accounting policies, and additional Danish interim reporting requirements for listed companies.

We consider the accounting policies applied to the effect that the interim financial report gives a true and fair view of the Group's assets, liabilities and financial position as at 31 March 2010, and of the results of the Group's operations and cash flows in the period 1 July 2009 – 31 March 2010.

We further consider Management's review to be a true and fair presentation of the development in the Group's operations and financial matters, the profit for the period and of the Group's financial position as a whole and describes material risks and elements of uncertainty pertaining to the Group.

• Consolidated revenue for Q3 2009/10 amounted to DKK 996 million (DKK 1,008 million) which corresponds to a 1% setback.
• Gross profit for Q3 2009/10 amounted to DKK 580 million (DKK 599 million) which corresponds to a setback in the gross margin of 1.2 percentage points to 58.2%. Foreign exchange movements alone were attributable to a setback of 3.7 percentage points.
• Capacity costs for Q3 2009/10 amounted to DKK 484 million (DKK 483 million) and are by and large unchanged. This corresponds to a cost rate of 48.6% (47.9%).
• Operating profit for Q3 2009/10 amounted to DKK 96 million (DKK 116 million) which corresponds to a decrease in the EBIT margin of 1.9 percentage points to 9.6%.
• Order intake for the autumn collection 2010 is expected to generate a growth rate of 2%.

Specified guidance for 2009/10

• Based on developments seen in Q3 and the month of April, the Group expects to generate revenue in the region of DKK 3,450 – 3,500 million (previous estimate of DKK 3,400-3,500 million) and an operating profit in the region of DKK 240 – 270 million (previous estimate of DKK 220-270 million) for the financial year 2009/10.
• Investments in the region of DKK 100 – 120 million are expected to be maintained, primarily for an expansion of the distribution and sales promoting improvements of the IT platform.


Must ReadView All

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

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 ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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