Globe International, the Australian surf and action sports company, cited lower global consumer demand in forecasting a first-half EBITDA loss of A$5.0-6.0 million (€2.55m to €3.06m-$3.25m to $3.90m) when it reports results for the six months ended Dec. 31 on Feb. 26. Globe, in a statement, said it remains in a “financially stable position” due to a strong balance sheet, no debt position, its consolidation of operations and implementation of significant cost cuts that have included layoffs.

Topics