IC GROUP A/S
COMPANY ANNOUNCEMENT
As part of it efforts to reduce excess capacity costs by DKK 45 million
following the sale of the Mid-Market Division, IC Group is now implementing
organisational changes.
In Denmark, the Group will reduce headquarters positions and service functions
to create an increasingly focused and competitive support platform for the
Group’s Premium brands. As a result of this organisational change, 39 permanent
jobs will be cut in Denmark.
The Group will focus all its Global Sourcing activities in Asia at the office
in Hong Kong, whereas the office in Shanghai which has primarily provided
services to the divested Mid-Market Division will be shut down. The Group’s
office in Rumania will continue its sourcing activities from Europe and North
Africa, leading to a reduction of 24 full-time jobs outside Denmark.
The Group will provide information on its work to reduce excess capacity costs
in connection with the release of future interim reports.
The contents of this announcement will not have any impact on the Group’s
previously announced forecast for the financial year 2014/2015.
IC GROUP A/S
Mads Ryder
Group CEO
PLEASE DIRECT ANY QUESTIONS REGARDING THIS ANNOUNCEMENT TO:
Jens Bak-Holder
IR Manager
+45 2128 5832
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.
