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 is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.