Billabong International net loss falls to $18.4 million

Company News

by Jessica Amir

Surf company Billabong International Limited (ASX:BBG) has seen its net loss dive deeper into the red, with its half year loss hitting $18.4 million and its total revenues for the half year fell 7 per cent to $476 million.

The company, primarily a clothing retailer says the result reflects the ongoing difficult trading conditions in retail and much of the action sports sector.

At a group level its EBITDA fell 19 per cent year on year. It comes as Europe EBITDA fell 29 per cent, the Asia-Pacific fell 9 per cent. Meanwhile, Americas rose 34 per cent.

It has affirmed its guidance for the full year 2018 EBITDA guidance of $51.1 to $54 million.

Shares in Billabong International Limited (ASX:BBG) are trading flat at $0.96

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.