Swatch sees growth in luxury segment in H1 of 2007
14 Aug '07
3 min read
Swatch Group releases Half-year report for 2007. Swatch Group core business, the Watches & Jewelry segment, once more demonstrated its strong position as the growth engine of the Group. The Production segment, too, made a significant contribution to the Group's outstanding performance.
• Excellent start into 2007, with highly promising outlook for the full year • Despite significant capacity bottlenecks, substantial rise of 16.7 % in gross sales to CHF 2.74 billion, and as much as 20.0 % for Watches & Jewelry segment • Above-average increase of 27.1 % in operating profit from CHF 402 million to CHF 511 million • Operating margin up from 18.0 % to 19.6 % • Overproportional rise of 39.4 % in net income to CHF 460 million, reinforced by good financial result
Group Overview: The world leader in the watch industry continues to enjoy robust growth. In the first half of 2007, gross sales climbed by a substantial 16.7 % to CHF 2 739 million. At +0.3 %, the currency effect was slightly positive.
With its 18 brands in all price categories, the Swatch Group continues to benefit from strong worldwide demand for watches and jewelry. Due to renewed growth surge in its core business, the Group gained significant market shares, with all geographical regions contributing to this considerable growth.
Various innovative retail ideas were realized, including the opening of the N. G. Hayek Center in Tokyo, the first outlet shops with our US joint venture partner, and the acquisition of airport shops in France.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
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