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