Billabong Loss Expands in H1
Consistent with its guidance, Billabong reported a net loss of A$16.1 million ($12.4 mm) for the half ended Dec. 31 against a loss of A$1.6 million for the prior period as sales declined 10% to A$508.3 million ($391.5 mm) compared to A$561.9 million. Sales were off 6% in constant currency and accounting for the sale of Sector 9. After the quarter ended, it sold Tigerlilly for A$60 million. One-time items cost the company A$10.5 million this year against A$2.0 million prior.
The Americas registered a 152% increase in EBITDA to A$10.3 million from A$4.1 million despite a 13% decline in sales ... Log in to view full article.