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).
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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.
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Hayek was the founder and most recently the chairman of the Swatch Group, the number one manufacturer of finished watches in the world. He was often cited as the saviour of the Swiss watchmaking industry. Hayek died “completely unexpectedly while working for his beloved Swatch Group”, the company announced on Monday evening. Considered one of…
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