BILLABONG RESULTS FOR THE FULL YEAR TO 30 JUNE 2015 30.08.15
ASB MAGAZINE: Billabong announced its full-year financial results to 30 June 2015 highlighted by a Net Profit After Tax of AUD$4.2 million compared to a $233.7 million loss for the previous corresponding period [pcp]. In conference with analysts, Billabong said the groups 7-point turnaround strategy is working, with clear signs of progress across the brands and regions. Since CEO Neil Fiske’s appointment Billabong has undertook widespread sweeping organisational change – from regional, fragmented and subscale to global, brand driven, and platform enabled. Billabong says it’s stronger today on many dimensions – cornerstone investors and recapitalized balance sheet. The company is focused on the turnaround, executing it with discipline and talent. As the headwind of the last few years has begun to ease, the entire Billabong group is growing in confidence and with momentum.