Swatch’s sales see large increase

The world’s largest watchmaker Swatch Group said its first-half sales rose by 32.9 per cent compared to the same period in 2009, reaching SFr3.03 billion (2.91 billion).

This content was published on August 4, 2010 - 08:51

The group, which makes Swatch watches and owns a wide range of other Swiss brands, saw operating profit increase by 81.4 per cent to SFr626 million, and net income rise by 54.5 per cent to SFr465 million.

“Growth has been solid in July, and we expect a strong result for the second half of 2010 in terms of both sales and profit,” the group announced on its website.

The group recently appointed Nayla Hayek as chairwoman after predecessor and founder Nicolas Hayek died of heart failure in June.

Swiss watch exports overall rose by 35 per cent in the first six months of 2010, the country’s Federal Customs Office said last month. and agencies

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