The surfwear giant confirmed the Americas reported sales growth of 33.9 per cent to $381.1 million for the six months ended 31 December 2008, a result boosted by the weaker Australian dollar against the US$.
However, earnings before interest, tax, depreciation and amortization for the market fell to 10.6 per cent - from 16.7 per cent in the previous corresponding period. This was largely due to "extremely" weak economic and consumer conditions which prompted a reduction in underlying year-on-year sales.
CEO Derek O'Neill said the company was still on track to deliver full year earnings per share growth in the range of 6 top 10 per cent for the 2008/09 financial year.
"While the company has experienced margin erosion in its biggest division, the Americas, the effect is being partially offset by strong appreciation in the USD against the AUD."
Sales in the European market were the strongest for Billabong, up by 24 per cent to $177.8 million.