Billabong

Bullish Billabong buyers back on board 18 Feb 2011 - 09:21pm Billabong International Ltd investors pushed the share price of the surfwear retailer higher on expectations of stronger future revenues and a turnaround in its fortunes.The retailer allayed shareholder concerns that it could fall victim to a tough retail environment, made worse by the Queensland floods and Cyclone Yasi, and investors shrugged off its poor start to summer.Billabong's share price was up 6.38 per cent, or 51 cents, to $8.51, having reached an intraday high of $9.07 its highest level since the beginning of calendar 2011.This was despite a fall in first half net profit of 18 per cent to $57.2 million for the six months to December 31 compared with the previous corresponding period.The result was in line with guidance given in December when the company revised down its profit outlook due to the strong Australian dollar and weak sales because of poor consumer sentiment and the wet start to the summer season...

Source: http://bigpondnews.com/articles/Finance/2011/02/18/Bullish_Billabong_buyers_back_on_board_579299.html