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Billabong growth `still high` 11jun04 Billabong International reassured investors its profit growth was on track as it announced that chief financial officer Shayne Palfreyman would leave at the end of September. The surfwear company said it expected to deliver a full-year result in line with previous forecasts. In February, Billabong said it expected double-digit earnings per share growth for 2003-04, but admitted the stronger Australian dollar made its target of 15 per cent growth unlikely. Billabong`s profit for the six months ended December 31 rose 16 per cent to $40.6 million from $35 million a year ago. Mr Palfreyman gave 12 months` notice, but has agreed to stand down at the end of September "as a practical matter". Mr Palfreyman joined Billabong when it was still privately owned and had a turnover of about $100 million. Turnover was now more than $600 million, Billabong chief executive Derek O`Neill said. "Shayne has made an important contribution to that growth and I thank him for his efforts," he said in a statement. Mr Palfreyman said the company "remains in a strong financial position" but that "I feel the time is right to move on". The company also said that Peter Casey, the former head of operations at Billabong Australia and a 20-year veteran of the company, had become general manager of Billabong Europe. "He is particularly strong on the operational side of the business and that experience will be welcome in Europe," Mr O`Neill said. He replaces product management specialist Stephane Weinhold. The company will release its annual results on August23. Its shares fell 19c to $8.36. Fujipyjama |
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| aus der Diskussion: | Billabong: Surfwear-Hersteller mit guten Aussichten auf Kurssteigerungen! |
| Autor (Datum des Eintrages): | FujiPyjama (14.06.04 19:29:00) |
| Beitrag: | 9 von 9 (ID:13429937) |
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