Deep value in Billabong, but you will need to be patient

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Deep value in Billabong, but you will need to be patient. Sebastian Evans, CIO at NAOS Asset Management, discusses their position in Billabong. Evans says the brand has been in the news for all of the wrong reasons of late, however, he sees a brighter future for the business it just might take a little while to get there. The catalyst for Evans was the introduction of a new management team through major shareholder Oakbridge Capital. The thing that is most appealing about Billabong... is that it has an existing revenue base and it is much easier to build a big revenue base into profitability rather than trying to grow revenue and a brand. Evans says the new management is making progress with working capital coming down and The Company is nearly debt free. He discusses what needs to go right for Billabong in this video:


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