Swatch reports record half-year results


Watches & jewellery segment sales rise by a third on previous year.

Sales in the Swatch Group’s Watches & Jewellery segment rose by a third on the first half of 2009, a 10 percent improvement on the previous record half-year in 2008.

The group’s gross sales of CHF 3,030 million (£1,800 million) exceeded the three billion mark in Swiss francs for the first time. This was an increase of 22 percent on 2009 and two percent compared with 2008.

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Operating profit for the company also showed an increase of 81 percent to CHF 626 million (£378 million), or 22 percent of net sales.

Swatch Group will be launching a number of new products in the second half of this year, including the Breguet world exclusive chronograph ‘Type XXII 10Hz,’ which was initiated and introduced by the recently deceased Nicolas G. Hayek.

The group anticipates strong results for the second half of 2010 in terms of both sales and profit and asserts that it biggest challenge will be to quickly overcome the capacity bottlenecks that exist in some production areas.

Tags : half yearJewelleryjewellery focusjewelryProfessional JewellerresultsRetail JewellerSwatchwatches
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