Surf, skate and ski apparel retailer Billabong International Ltd
(ASX:BBG) says profit for the first half of fiscal 2010 fell 15% however it reconfirmed its earnings guidance for the full year.
Net profit after tax for the six months to December 31, 2009 came to $60.7 million down from $82.4 million for the same period a year ago following a significant strengthening of the Aussie dollar against the US and Euro.
Sales of $721 million fell 10.8% compared to a year earlier, however the company says its performance was in line with expectations.
The company says it experienced growth in many European territories, including Germany and Central European countries, while Australia had solid sales growth of around 4% compared to last year.
Looking ahead the company reaffirmed its full year earnings guidance for 10% net profit after tax growth on the year before.
Billabong declared an interim dividend of 18 cents a share, partially franked to 50%. Billabong posted net profit of $152.84 million for fiscal 2009.
