Strong European second half raises sales
Surfwear brand Billabong International is riding high after posting a strong set of full-year results, buoyed by record-breaking European sales.
In Europe, a strong second half took full-year sales to Eu120.1 million (£81.3 million), up 20.3 per cent.
Billabong posted overall sales of Aus$1.02 billion (£412.6 million) - a rise of 21.1 per cent. The Australian group unveiled a profit increase of 16.5 per cent to Aus$145.9 million (£59.01 million) for the year ending June 30.
Billabong International chief executive officer Derek O'Neill said it was a milestone
result: 'This is a result built on very strong sales growth across the brands in the Americas and Europe, underpinned by a solid performance in the key market of Australasia.'
Sales in the Americas reached US$385.7 million (£203.7 million) - up 30.4 per cent, compared with the previous year.
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