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Article Date: March 2021
Word Count: 222

Globe International Soars in Fiscal H1


Net income nearly quadrupled in the fiscal first half ended Dec. 31 to A$15,260,000 ($11.0 mm) from A$3,884,000 on 60% higher sales of A$124,863,000 ($90.2 mm) up from A$77,960,000 led by the Impala, FXD, Globe and Salty Crew brands. Gross profit expanded 560 basis points to 43.2% driven by more online sales, a weaker US$, and a shift in mix towards higher margin hardgoods. Freight costs and U.S. tariffs were a headwind, however. Results this year included A$0.5 million earnout from Dwindle, against a A$3.7 million gain the prior year that included the net gain from the sale of the ... Log in to view full article.

 


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