• Q2 net profit up 27% to US$24.5m
  • Revenue up 35% to $76m
  • Reiterates FY sales and earnings guidance

 

Iconix Brand Group posted a 27% increase in second quarter profit to US$24.5m, driven by strong organic growth and a 35% rise in revenues.

The US company’s first half revenues rose 38% to $147.7m, while net income increased 41% to $49.3m.

Iconix reiterated its full-year forecast of revenues of $305-315m, accompanied by diluted earnings per share of $1.23-1.28.

“Our direct-to-retail model has proven to be very powerful and was a key driver of our organic growth this quarter, with the majority of DTR brands posting double-digit retail sales gains,” said Neil Cole, company chairman and CEO.

“We are excited about our new Peanuts platform and the worldwide access it gives us in over 40 countries.”