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IC Companys A/S manages to register 6% growth

20
Nov '08
At its meeting on 18 November 2008 The Board of Directors of IC Companys A/S considered and adopted the interim financial statements for the period 1 July – 30 September 2008.

•Revenue in the first quarter came to DKK 1,262 million (DKK 1,190 million) which corresponds to a 6% growth.

•Wholesale revenue rose by 5% to DKK 946 million (DKK 897 million). In-season sales are achieved at the same level as last year.

•Retail revenue increased by 5% to DKK 276 million (DKK 262 million). Same-store sales are achieved at the same level as last year.

•Gross profit in the first quarter came to DKK 754 million (DKK 725 million) which equals a 4% growth.

•Operating costs came in at DKK 524 million (DKK 475 million). The development is affected by restructuring costs totaling DKK 23 million concerning previously announced organizational changes.

•Operating profit in the first quarter is down 8% to DKK 230 million (DKK 249 million) corresponding to an EBIT margin of 18.3% (21.0%). Adjusted for restructuring costs, the cost efficiency is marginally improved as compared to last year.

•Order intake for the 2009 spring collections is completed showing a 1% setback as measured against last year. The total growth in order intake for 3 of a total of 4 seasons amounts to 5%.

•The Group has closed down its sourcing office in Copenhagen and has instead established new sourcing offices in Hanoi, Vietnam and Delhi, India. In cooperation with the office in Dhaka, Bangladesh, these offices will handle the sourcing for South Asia under joint regional management.

IC Companys A/S


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