For the first half ended Dec. 31, Globe saw sales increase by 3 percent (10 percent in constant currency) to 63.5 million Australian dollars (€38.23m-$58.9m), and recorded a net profit of A$288,000 (€173,381-$266,435) against a loss of A$4.5 million (€2.7m-$4.16m). The bottom line was reduced by A$1.2 million (€722,422-$1.1m) relating to a December court case in the UK, in which a Globe subsidiary lost a trademark dispute. The infringement is in relation to visual aspects of models that are being reworked; the subsidiary is appealing the ruling.
Turnover in Europe rose by 3 percent (6 percent in constant currency) to A$11.2 million (€6.74m-$10.36m), with apparel and hardgoods driving the increase. Sales in North America went up by 4 percent (18 percent in constant currency) to A$29.5 million (€17.76m-$27.29m), and hardgoods in particular performed well. In Australasia, footwear, hardgoods and apparel all helped revenues grow by 2 percent to A$22.7 million (€13.67m-$21m), and currency fluctuations allowed for gains in gross margins. The new open-toe range achieved “market acceptance.”
