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Struggling surfwear icon Billabong has warned it cannot carry on business as usual if a takeover by the owner of rival Quiksilver does not proceed, as the company reported worsening revenue and net loss for the first half of the year.

Billabong posted a net loss of A$18.4 million ($20m) for the six months to December 31, worse than A$13m a year earlier, while revenue declined seven per cent to A$476.4 million.

The company reiterated it expects   …  More

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