Billabong International Limited
(ASX:BBG) says its annual profit result has been hurt by the strong Australian dollar and weak consumer sentiment.
Net profit has fallen by 18 per cent to $119 million, but global sales are up for the financial year to June 30.
A year ago the surfwear retailer forecast earnings per share growth rates in excess of 10 per cent. The guidance was based on global trading conditions recovering, which have in fact deteriorated. The Group refused to offer anymore guidance.
The retailer declared a final dividend of 13 cents per share franked to 25 per cent.
