Billabong International is counting on cost savings, fresher stores and new supply chain, ordering and e-commerce systems to boost earnings this year after reversing sliding sales in key brands to deliver its first profit in four years.

Chief executive Neil Fiske says the surf, ski and skate-wear company, which came close to collapse in 2013, is making "good progress" against a seven-point, multi-year turnaround plan, reporting a $4.2 million net profit and the first growth in underlying earnings in seven years.