Billabong International (ASX:BBG) has posted an 18 per cent fall in first-half net profit.
For the six months to December, net profit after tax was $57.2 million, down from $69.7 million for the same period the year prior.
Billabong says it expects full-year net profit after tax to be flat. That’s in line with guidance issued late last year.
The surfwear retailer declared an interim dividend of eight cents fully franked.
In the 2010 financial year, Billabong International generated a net profit of $145 million.
