Billabong International reported its interim result on Friday, with both revenue and earnings falling significantly. Having had a chance to digest the results over the weekend we’re reasonably happy to maintain our current recommendation, but have a number of questions we are following up with the company. Expect full coverage of the interim results shortly.
For now, with the share price down 12% since 15 Jan 13 (Speculative Buy – $0.96), Billabong remains a SPECULATIVE BUY.
Note: The model Growth portfolio owns shares in Billabong International.