Billabong, a surf company, predominantly a clothing retailer that also produces accessories, has reported a revenue growth of 7.6 per cent at € 368 million in the first six months of its current fiscal year, ending on December 15, 2015.
The Asia-Pacific (APAC) region remains the main market for the company, fetching AUD 244 million in revenue, marking a 2.8 per cent surge. The Americas region noted 11.7 per cent increase to AUD 220 million. Surprisingly, the firm has seen good growth in the European market as well, which has not picked up much in the recent past, with AUD 98 million – noting an 11.5 per cent growth in the reporting period.
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The retailer also mentioned in the press release that the results for its three leading brands are also pleasing, with Billabong noting surge of 2.6 per cent, Element by 9.1 per cent and RVCA by a 20.6 per cent. However, gross margin at Billabong plunged by 260 base points. Its EBITDA was consequently dropped 13.1 per cent to AUD 37.2 million.
Headquartered in Queensland, Australia, Billabong was founded in 1973 by Gordon and Rena Merchant. It also owns brands like Kustom, Palmers Surf, Xcel, Tigerlily, and Sector 9.
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