Stock market quotes, forex, financial news, forex tools –

Swiss watches are in great demand among Asian, Swatch records its maximal profit

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Swiss watches are in great demand among Asian, Swatch records its maximal profit
July 18
09:00 2018

The world’s largest watchmaker Swatch Group AG has issued its reporting for the first half of this year. According to the published data, the company has managed to increase operating profit by a record 70%. The boom in demand for Swiss brand watches in Asia caused the growth.

The operating profit has totaled 629 million SHF (628 million US dollars). This indicator is the highest in the past three years. Experts were waiting for the figure of 612 million francs. Net profit has soared by 66.5% -to 468 million francs.

In January-June, the revenue jumped by 14.7%- to 4.27 billion francs. Profitability for operating surplus has increased from 10% (last year) to 14.7%; a net profit has grown from 7.6% to 11%.

The representatives of the company noted that a serious increase in revenue and sales was being observed in all brands owned by the company.

Let’s remind that besides the same name brand, the company Swatch also owns such brands as Breguet and Omega, Blancpain and Certina, Tissot and Longines. During the bidding process on Wednesday, the company’s securities grew by 0.9%. Since the beginning of the year, its capitalization has grown by 20%- to 24.9 billion SHF.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment