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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter.