IC Group A/S Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31 March 2017; Provides Earnings Guidance for Fiscal 2017 and 2018
For the period, consolidated revenue amounted to DKK 2,256 million against DKK 2,156 million a year ago, corresponding to a growth rate of 4.6% or 5.6% measured in local currency. Revenue increased in both the wholesale channel as well as the retail channel - in the latter channel driven by new stores and e-commerce. The consolidated operating profit amounted to DKK 228 million against DKK 269 million a year ago.
The company now expects to realize a revenue growth rate of 3%-4% measured in local currency (previously 5%-6%) and an EBIT margin of 4%-5% (previously 6%-7%) for the financial year 2016/17. At present, the company expects to realize a minor revenue reduction and an improved EBIT margin for the financial year 2017/18.