Billabong is forecasting 2010-11 earnings to be “relatively flat” thanks to a stronger Australian dollar causing problems with the company’s bottomline, according to a story in the Sydney Morning Herald.
Billabong chief executive Derek O’Neill said the surfwear maker expected its net profit after tax (NPAT) to rise modestly in the current financial year. . . “Notwithstanding the impact exchange rate movements may have on reported NPAT… the company’s constant currency guidance of 2 per cent to eight per cent NPAT growth for the 2010-11 financial year remains unchanged,” Mr O’Neill said.
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[Link: Sidney Morning Herald]
