Even though Billabong has reported a net profit of $167.25 million (up 14.6 percent) for 2006/07, and sales revenue that grew 20.1 per cent to $1.22 billion, shares in the company still fell five percent after the announcement today.
Sales in the Americas, the group’s biggest region, rose in the double digits, while EBITDA rose by 12.3 per cent to $US111.9 million ($A136.03 million). Mr O’Neill said the Americas region was backed by strong performances in Canada and South America.
Oddly, an analyst “who did not wish to be named” said the Americas were “disappointing” because of the Aussie dollar. Can you be a quoted stock analyst and not wish to be named? We’re all for anonymous comments, but still that seems shady.
[Link: The Age]
