Billabong swings to full-year loss, sales up 4.6 percent

Billabong International’s total Group sales were 1.1 billion Australian dollars (839 million dollars), up 4.6 percent for the full year to June 30, 2016. Sales were down 1.4 percent on a constant currency basis. The company said, its big three brands continued to grow in global wholesale equivalent revenue - up in total by 5.3 percent for the year. Billabong was up 1.9 percent, Element 5.3 percent and RVCA 18.1 percent on a constant currency basis. However the company reported a net loss of 23.7 million Australian dollars (18 million dollars) compared to a profit of 4.2 million Australian dollars (3.2 million dollars) in the previous year.