Billabong Sees Positive Year Ahead

(Reuters) – Surfwear maker Billabong International Ltd said on Friday it sees a strong year ahead.

“The company’s outlook is positive, with all divisions well positioned for strong revenue growth at solid margins,” the company, which also makes skateboard and snowboarding gear, said in a statement to the Australian Stock Exchange.

“The underlying revenue growth rates of 25 percent in North America and Europe, and 15 percent in Australasia are expected to be at least maintained in 2002,” it said.

Billabong said it expects positive contributions from its recent Von Zipper and Element acquisitions, as well as its recently integrated Japanese operations.

It earlier posted year to June 30, 2001, net profit of A$42.06 million, outpacing its A$37.4 million prospectus forecast.