IC Group Q1 revenues decline by 18.3 percent

Revenue of the company’s continuing operations for first quarter, IC Group said, amounted to 379 million Danish krone (58 million dollars) corresponding to a reduction of 18.3 percent or 15.8 percent measured in local currency. The operating profit amounted to 14 million Danish krone (2 million dollars) before non-recurring costs in respect of the transformation of IC Group resulting in an EBIT margin of 3.7 percent compared to 14.9 percent last financial year. When including the above-mentioned non-recurring costs, the company added that operating profit amounted to 8 million Danish krone (1.2 million dollars) corresponding to an EBIT margin of 2.1 percent.