IC Companys remains cautious about the financial year ahead
In terms of sales, IC Companys reported positive figures for the financial year of 2010/2011 ended on June 30th. The group’s worldwide revenue reached almost 527 million euros, showing a 12% growth in comparison to the previous year. The upscale brands did particularly well, with By Malene Birger going up 35% and Saint Tropez also up 31%.
A/W 2011 campaign for IC Companys' brand Matinique
Except for Soaked in Luxury, all brands experienced revenue growth during the year. Leading brand Peak Performance increased by 7% to 131 million euros. Men’s fashion brand Tiger of Sweden, which came in second place, grew by 18% to 71 million.
As for wholesale and retail sales, which represent around 60 and 40% respectively of the total turnover, went up by 13 and 11%.
Despite the positive performance, IC Companys’ gross margin was unfavourably affected by a rise in raw material prices. The group’s gross margin for 2010/11 was 59.1% (around 311 million euros), against 60.8% in 2009/10.
The consolidated operating profit amounted to 43 million euros, which corresponds to an increase of 14%, but IC Companys is remaining cautious for the financial year ahead and is counting on a stable or slight increase of its revenue for fiscal 2011/2012.
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