Billabong International‘s shares gained more than 15 percent after the group's annual shareholders' meeting this week, where investors heard about numerous initiatives to improve Billabong's business in the Asia-Pacific region. Billabong's results for the full year until the end of June showed major improvements in some indicators in the Americas and Europe, about four years after the group nearly collapsed. But Neil Fiske, Billabong International's chief executive, outlined a raft of measures to do better in Asia-Pacific, where the group's operating profit (Ebitda) dropped by 28.3 percent for the fiscal year. The under-performance is chiefly due to the group's business in Australia. Fiske said the company suffered from misses on product and sales execution, and it had to make some leadership changes. Billabong has taken measures to fast-track changes to its product range; it has brought in new sales leadership for Billabong; and it has invested in its own retail business, both in stationary retailing and e-commerce. The assembly approved the re-election of Gordon Merchant as a director, as well as the election of Kim Anderson and Elliott Weinstein.

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