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