February 21, 2013 / 11:31 PM / 4 years ago

Australia's Billabong shares plunge after earnings

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SYDNEY, Feb 22 (Reuters) - Shares in Australia's Billabong International Ltd plunged as much as 7 percent on Friday after it posted a first-half net loss of A$536.6 million and lowered its full year outlook.

The struggling surfwear company cited difficult trading conditions in Europe and a disappointing performance from its Nixon watch brand.

The shares fell to a low of A$0.845 and were trading down nearly 5 percent at A$0.87 by 2318 GMT, the biggest one-day percentage fall in two months. (Reporting By Maggie Lu Yueyang)

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