12/07-2018 17:30:11: (IC.CPH) IC Group announces upward revision of earnings forecast for the financial year 2017/18
Based on the preliminary figures for the financial year 2017/18, the Group expects its earnings for the year under review to be realized at an EBIT margin of approximately 7% (most recent outlook stated; "approximately 6%", the original outlook in communicated with the annual report for 2016/17 stated; "approximately 5%").
This upward revision is primarily attributable to the lower than expected cost level in Tiger of Sweden as well as further cost savings in IC Group's corporate functions during Q4 2017/18.
All other previously announced expectations for the financial year 2017/18 remain unchanged. The Group still expects to realize a minor revenue reduction compared to the financial year 2016/17.
IC Group will announce its annual report for 2017/18 on 28 August 2018. Following the announcement to the market, an audiocast will be held for investors and analysts at which the CEO of the Group will present the financial statements as well as respond to any questions.
IC Group A/S
Please direct any questions regarding this announcement to:
Head of Investor Relations
+45 21 28 58 32
This announcement is a translation from the Danish language. In the event of any discrepancy between the Danish and English versions, the Danish version shall prevail.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: IC Group A/S via Globenewswire
Nyheten er levert av GlobeNewswire.