Rip Curl reported in good form
After a bumpy start to the 2010s, like all the other world surfing giants, Rip Curl concentrated on products targeted at surfers themselves. With a reduced range, a return to fundamentals, and clearly-defined objectives, the Australian group seems to be back on the right track. In the 2013-14 fiscal year, sales had grown by nearly 8%.
In the latest fiscal year, 2014-15, closed on June 30th, Rip Curl recorded a rise of nearly 4%. The final sales figure, according to the local media, was more than AUD445 million (€304 million), chiefly thanks to significant growth in North America, South-East Asia and South Africa. The group directed by Michael Daly stated that sales grew moderately in Australia and remained stable in Europe.
The European subsidiary, managed by Wilco Prins and based in the southwest of France, stated that there has been a rise in sales in its direct sales facilities, and also enjoyed a return to positive results in the current fiscal year.
The group, 72% of which is still owned by founders Doug Warbrick and Brian Singer, recorded a 26% growth in global after-tax income. According to Australian media, which delved into the records of the Australian Securities and Investments Commission, net income amounted to AUD28.86 million (€19.73 million).
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