IC Group reveals 2.2 percent decline in H1 revenue

Consolidated revenue for H1 2017/18 at IC Group amounted to 1,483 million Danish krone (246.7 million dollars) corresponding to a reduction of 2.2 percent or 1.5 percent in local currency). The company said, revenue decreased in the wholesale channel whereas the retail channel reported increased revenue. The gross margin increased by 1.3 percent to 57.9 percent compared to the same period last financial year. The consolidated operating profit amounted to 207 million Danish krone (34.4 million dollars) compared to 180 million Danish krone (29.9 million dollars) last year, resulting in an EBIT margin of 14 percent compared to 11.9 percent for H1 2016/17.