Billabong International Limited ( announced a record net profit after tax of $167.2 million for the financial year to June 2007. That signifies a net profit jump of 14.6% or 19.2% in constant currency terms.

Sales revenue climbed 24.1% in constant currency terms (20.1% in reported terms) to $1.2 billion, driven by strong growth in Europe and good growth in the Americas and Australasia. In constant currency terms, sales in the Americas grew 22.3%, Europe jumped 32.2% and Australasia was up 21.5%.

Europe maintained its strong first half momentum to grow full-year sales by 32.2% to €158.8 million (up from €120.1 million), while EBITDA surged 42.8% to €30.2 million (up from €21.1 million). In reported Australian dollar terms, sales grew 31.6% to $264.7 million and EBITDA increased 42.1% to $50.3 million. EBITDA margins rose to 19.0% (up from 17.6%) in response to improved buying and some currency benefits from the strengthening Euro against the US dollar in the second half.

The European business had an outstanding performance, with the territories of Spain, Italy and Germany each recording double-digit sales growth. Southern France remained another strong territory, while Greece is starting to emerge as a good growth market. The United Kingdom remained relatively subdued and was further impacted by poor weather.

Each of the Group’s brands delivered double-digit sales growth and the categories of boardshorts, walkshorts, T-shirts and polos were particularly strong for Billabong. The group’s Element brand continued to build a strong market presence and grew in excess of 25%, Von Zipper had strong double-digit growth, Nixon grew strongly and Kustom almost doubled in size. At a consolidated level, men’s and accessories achieved the strongest growth, while girls’ continued to build.

The group’s retail presence continued to grow and increased from 18 to 34 stores. Store openings in the latter part of the year included Manchester, Belfast, Liverpool and Barcelona.