Swatch: record sales and “promising” prospects
(CercleFinance.com) - Swatch has reported record half-year sales and a considerable U-turn in its accounts.
The group is additionally banking on a “promising” second half of the year.
The Swiss group reported “record” Q1 sales of 4.3 billion Swiss francs, up 14.7%, or 12.6% at constant exchange rates. Swatch cites “massive gains in market share in all price segments and all regions”.
Operating profits also soared by 69.5% to 629 million euros, hiking margins up from 10% to 14.7%. Net profits have also followed this surge (+66.5% to 468 million).
Finally “growth prospects remain promising for the second half of 2018”, indicates the Biel Group, adding “July is following in the wake of this very positive trend”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group is additionally banking on a “promising” second half of the year.
The Swiss group reported “record” Q1 sales of 4.3 billion Swiss francs, up 14.7%, or 12.6% at constant exchange rates. Swatch cites “massive gains in market share in all price segments and all regions”.
Operating profits also soared by 69.5% to 629 million euros, hiking margins up from 10% to 14.7%. Net profits have also followed this surge (+66.5% to 468 million).
Finally “growth prospects remain promising for the second half of 2018”, indicates the Biel Group, adding “July is following in the wake of this very positive trend”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.