Globe International's losses to become boardsports' gain
Australian apparel and boardsports company Globe International has a loss of posted A$3.2 million ($2.86 million) for the year.
Its lower income is attributable to its decision to sell its streetwear and World Industries brands earlier this year.
Chairman Paul Isherwood said that, following a business review at the end of the year, it was decided that, “the real future prospects for the company lay in the global business of boardsports apparel, footwear and hard goods”.
However, despite the losses reported, the company’s revenues rose from $123 million in the previous year to $126 million.
The company also announced that board directors Norman O’Bryan and Philip Brass have retired from the board, while Richard Alcock has become a company director.
