Billabong’s 13.8 Percent Profit Bounce

by The Editors on February 22, 2007

0,,5398523,00American sales were up 33.5% in Billabong’s financial half of the year ending December 31, 2006 with a net profit of AUS$90.5 million.

The group said that the first half result is an improvement of the prior corresponding result of $79.5 million, as the group recorded sales revenue of $610.7 million, which was up 26.1% from $484.3 million. . . . Looking forward, Mr O’Neill said that, in the absence of any unforeseen circumstances, the continued global momentum and strong demand is expected to deliver the full year earnings per share growth target of 15%.

And the stock went up 45 cents to AUS$17.85. And the Courier Mail was all upbeat. But that was yesterday. Today according to The Australian the stock tumbled almost four percent. Weird, huh?
[Link: e goli, The Courier Mail, and The Australian]

{ 1 comment… read it below or add one }

sales mangler February 25, 2007 at 1:57 pm

These numbers are deceiving this stock is going down. Trust me the sales departments over there are weak, sell now and buy later once they fire a few VP’s.

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