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globe international ltd (GLB) Snapshot

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globe international ltd (GLB) Details

Globe International Limited designs, develops, markets, and distributes fashion apparel, footwear, workwear, and hardgoods for the board sports and youth markets. It offers skateboard, surfwear, and streetwear products. The company sells apparel and footwear under various propriety brands, such as Globe, Enjoi, Blind, Almost, Cliché, FXD, Darkstar, Speed Demons, Tensor, Gallaz, Dusters, and Dwindle. It also distributes third party skateboard, fashion, and art culture brands, including Girl, Lakai, Chocolate, Flip, Skatemental, Thrasher, Obey, Neff, Enjoi, Stussy, and Vision Streetwear. Globe International Limited sells its products to retailers directly, as well as through third party distributors. The company offers its products in approximately 100 countries around the world, including Australasia, North America, and Europe. Globe International Limited was founded in 1984 and is based in Port Melbourne, Australia.

Founded in 1984

globe international ltd (GLB) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: A$907.4K
Chief Financial Officer
Total Annual Compensation: A$161.3K
Chief Operating Officer and President of Nort...
Total Annual Compensation: A$456.9K
President of Australasia
Total Annual Compensation: A$300.0K
President of Global Product
Total Annual Compensation: A$290.0K
Compensation as of Fiscal Year 2014.

globe international ltd (GLB) Key Developments

Globe International Ltd. Reports Consolidated Audited Earnings Results for the Year Ended June 30, 2014

Globe International Ltd. reported consolidated audited earnings results for the year ended June 30, 2014. For the period, the company has posted revenue from continuing operations of AUD 104,007,000 against AUD 84,137,000 a year ago. Loss before related income tax expense was AUD 15,603,000 against AUD 6,949,000 a year ago. Loss attributable to members of company was AUD 12,302,000 or 29.67 cents basic and diluted per share against AUD 5,959,000 or 14.37 cents basic and diluted per share a year ago. Net cash provided by operating activities was AUD 2,264,000 against net cash used in operating activities of AUD 2,441,000 a year ago. Payments for property, plant and equipment was AUD 353,000 against AUD 717,000 a year ago. Payments for acquisition of trademarks were AUD 98,000. Earnings before interest, tax, depreciation, amortization was (EBITDA) of AUD 2,447,000 against loss before interest, tax, depreciation, amortization of AUD 4,702,000 a year ago. Earnings before interest, tax, depreciation, amortization and significant items were AUD 1,731,000 against loss before interest, tax, depreciation, amortization and significant items of AUD 3,366,000 a year ago. Net sales were 24% higher than the previous year in reported currency, and 13% higher in constant currency. The growth in net sales drove the underlying profitability improvement. This sales and profitability improvement came from multiple sources across the Group as a consequence of the investment and diversification into new markets and brands over recent years.

Globe International Limited Announces Earnings Results for the Six Months Ended December 31, 2013; Provides Earnings Guidance for the Full Year of 2014

Globe International Limited announced consolidated earnings results for the six months ended December 31, 2013. For the six months, the company reported earnings before interest, tax, depreciation and amortisation of $2.4 million, including the release of $0.6 million of restructuring provisions against $0.9 million reported in the six months to 31 December 2012. Net profit after tax was $0.8 million for the half-year, which is $0.7 million above the $0.1 million in the prior corresponding period. Reported net sales for the half-year of $51.4 million were 17.2% above the same time last year. The increase in Net Sales were largely driven by growth initiatives such as FXD and Stussy in Australia, as well as continued growth in Globe branded European sales. In North America, sales decline offset some of the revenue growth from the other regions. The $1.5 million increase in operating profits over the prior corresponding period is mainly due to the top-line revenue growth. In addition, the profitability of the North American division, which struggled in the second half of last financial year, was improved compared to that period, as a result of cost cuts and the release of restructuring provisions during the half. The Group had available net cash of $9.1 million. Net tangible asset backing per ordinary security was 0.57 cents. Basic and diluted EPS was 1.97 cents against 0.36 cents a year ago. Net cash inflow from operating activities was $2,449,000 against $173,000 a year ago. Payment for property, plant and equipment was $140,000 against $442,000 a year ago. The company provided earnings guidance for the full year of 2014. For the year, the company expects revenues and operating profits to be ahead of last year. However, as is usual for the company, due to seasonal timing, sales and profits are expected to be lower in the second half of the financial year as compared to the July to December 2013 period.

Globe International Ltd., Annual General Meeting, Oct 17, 2013

Globe International Ltd., Annual General Meeting, Oct 17, 2013., at 13:00 AUS Eastern Standard Time. Location: 1 Fennell Street. Agenda: To receive and consider the financial report (which includes the financial statements and directors' declaration), the directors' report and the auditor's report for the year ended June 30, 2013; to consider remuneration report for the year ended June 30, 2013; and to re-elect Mr. Peter Hill as director.


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