Australia's Billabong International Ltd on Tuesday said it would conclude a refinancing deal within weeks as its annual net loss more than tripled and sales of its surf and streetware continued to decline in key markets including the United States. The company is considering two refinancing offers, one led by U.S. private equity firm Altamont Capital Partners and another from U.S. hedge funds Oaktree Capital Management and Centerbridge Partners."We are within weeks of finalising our long-term funding arrangements," chairman Ian Pollard said in a statement, without mentioning which party's offer was the preferred option.Billabong posted a net loss after tax of A$859.5 million ($777.80 million) for the year ended June 30, including significant items such as impairment charges on brands and goodwill. That compared with a net loss of A$275.6 million a year ago.Adjusted net profit, excluding one-off items, fell to A$7.7 million, from A$33.5 million a year ago. That was below average analysts' forecasts of A$10.8 million, according to Thomson Reuters Starmine data.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.47% or $-0.16/share to $33.54. In the past year, the shares have traded as low as $26.71 and as high as $36.04. On average, 968152 shares of TRI exchange hands on a given day and today's volume is recorded at 520961.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.45% or $-0.16/share to $35.23. In the past year, the shares have traded as low as $26.65 and as high as $36.98. On average, 897075 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 773416.
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