Billabong coup confirmed

NATIONAL: Surfwear giant Billabong has finalised its purchase of boardsports accessories brand DaKine. The purchase was announced on August 22 and was subject to several legal and financial requirements, all of which have now been satisfied.

The 20-year-old brand specialises in action sports accessories for the surf, skate, snow and windsurf markets.

Billabong announced a net profit after tax result of $176.4 million for fiscal 2008, up from $167.25 million on the previous year.