• Q2 profit rose 25.3% to US$10.4m
  • Sales increased 14% to $503.3m

Surfwear brand Quiksilver reported an increase in third quarter net income on the back of rising sales around the world.

Profit rose 25.3% in the quarter ended 30 July to reach US$10.4m, compared with the same period last year, while sales increased 14% to $503.3m.

Net revenue in the Americas was up 11% to $260.2m, while European revenues were up 16% in US dollars to $176.4m. On a local currency basis, European sales rose 2%. The company's Asia Pacific division reported a 20% increase in revenue to $65.5m, however, sales fell 3% over the period when measured in local currencies.

Commenting on the results, chairman and CEO Robert McKnight said: "We're pleased with our solid third quarter financial results and feel increasingly positive about our product offerings and the strength of our brands, which are resonating with consumers around the world despite global economic pressures.

"We're seeing continued strong growth in emerging and developing markets while our category expansion initiatives are delivering good initial returns, consistent with our longer-term plans."