Beach Energy's full year profit has fallen but its underlying performance was better than expected, and it expects profit growth in the coming year.

Billabong had made a net loss of $860 million following a turbulent 12 months for the surfwear company.

Surfwear label Billabong has again made a massive full year loss, due to lower sales and a big writedown on the value of its brands.

As it eyes a pre-tax profit of up to $385 million for the 2013/2014 financial year, Flight Centre is on track to transform its business for the web era.