IC Group sells its 51 percent stake in Designers Remix

IC Group A/S has said in a statement that the company has divested all of its 51 percent stake in Designers Remix A/S to Hesselbjerg Holding A/S, which is controlled by Niels and Charlotte Eskildsen.

For the financial year 2018/19, IC Group expects a flat revenue development from the continuing operations in total, measured in local currency. The EBIT margin, the company added, is expected to be realized at a level of 0-1 percent, prior to non-recurring costs in respect of the transformation of the group structure.

Investments for the financial year 2018/19 are expected to amount to approximately 4 percent of annual revenue primarily driven by Tiger of Sweden.

For its first quarter, revenue of the company’s continuing operations amounted to 379 million Danish krone corresponding to a reduction of 18.3 percent or 15.8 percent measured in local currency.

Picture:Designer Remix website