Surfwear company Billabong Ltd has upgraded its earnings prediction for the year ended 30 June 2005, due to better-than-predicted sales from its local operations.

The company said it expects full-year net profit and earnings per share to increase by 30 per cent, up from a previous prediction of a 20 per cent profit rise.

It added that all areas were experiencing growth, especially its Australian division.
The company has recently bought a six-store retail chain in California, which trades under the Beach Access name.