BBG 0.00% $1.05 billabong international limited

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  1. blt
    164 Posts.
    GOLD COAST, Qld, Oct 24 AAP - Billabong International Ltd chief
    executive officer Derek O'Neill said today the company's strong
    offshore earnings exposes the company to short term currency
    fluctations.
    Over the longer term, the profit impact will be reduced with
    product purchases using stronger Australian and/or European
    currencies which will tend to offset currency movements, he told
    shareholders at the annual general meeting today.
    "Let me emphasise that Billabong is a company with a bright
    future and, as the chairman has already indicated, if it continues
    to achieve its 15 per cent EPS (earnings per share) growth it will
    cement its position in the top tier of Australian companies," he
    said.
    He said Billabong remains focused on the protection of the
    brand, while at the same time achieving consistent growth in the
    business.
    Chairman Gary Pemberton said the company's stated targets are
    the consistent achievement of earnings per share growth of the
    order of 15 per cent per annum.
    That was below the "heady" growth levels of recent years but is
    a demanding target, achieved only by a small minority of companies,
    he said.
    AAP
 
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