Revenue grew by 9% in H1. Operating profit for the period was DKK 233 million. The guidance on revenue for the full year is retained at DKK 3,400 million, whereas the guidance on operating profit for the full year is reduced to DKK 330 - 350 million (previously DKK 375 - 400 million).
At its meeting on 21 February 2007, the Board of Directors of IC Companys A/S considered and adopted the interim financial statements for the six months ended 31 December 2006: • Revenue rose 9% to reach DKK 1,803 million (DKK 1,648 million). Revenue derived from own continuing brands was up by 13%. • Gross profit was DKK 1,046 million (DKK 959 million), which translates into a gross margin of 58.0% (58.2%). The marginally lower gross margin was due to higher sourcing currency exchange rates than last year. • Costs rose by 13% to DKK 813 million (DKK 718 million). This increase was due both to a higher level of activity and the Group's growth initiatives. • Operating profit was DKK 233 million (DKK 241 million), equivalent to an EBIT margin of 12.9% (14.6%).
Full-year guidance for 2006/07 reduced; objectives for the 2007/08 financial year retained: • The Group expects revenue of DKK 3,400 million for the full year 2006/07. • The decline in Jackpot is bigger than previously estimated. Adding the extraordinarily warm winter weather, which in particular has affected the Groups largest brand Peak Performance in the form of less sales growth and higher inventory writedowns in Q2 than planned, has led to a downgrade in the forecast of operating profit to DKK 330 - 350 million (EBIT margin 9.7% - 10.3%) from previously DKK 375 - 400 million (EBIT margin 11.0% - 11.8%).
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