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Billabong makes a loss of 1.6 million dollars

Billabong, the Australian manufacturer of surf, ski and skate gear, has made a loss of 1.6 million dollars in the first half of the business year up to December 31st, 2015. 

Billabong is known for its involvement in surf sports: But the company is now having to overcome a setback.
Billabong is known for its involvement in surf sports: But the company is now having to overcome a setback.

The loss is attributed to weak business in America. Sales improved by 4.5% to 565.4 million dollars. A dividend was not distributed due to the poor result. 


CEO Neil Fiske said that European business has improved significantly and the Asian market was also bringing satisfactory results. The company’s position should be re-stabilized thanks to internal changes.

Billabong shares have been low for a long time as the company has published poor business figures. Founder Gordon Merchant has been purchasing shares en masse recently.

Read Billabong’s full annual report here.


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