News Column

Swatch Profit Rises Year-on-Year

July 23, 2013
swatch watch
Swatch watch (photo: Khalid Mahmood, Creative Commons)

Swiss watchmaking group Swatch said Tuesday that its net profit increased 6.1 per cent year-on-year to 768 million Swiss francs (818 million dollars) in the first half of 2013 as sales rose around the globe.

The world's biggest watchmaker said its sales amounted to 4.18 billion francs, an increase of 8.7 per cent compared with the first six months of 2012.

The company outpaced the Swiss watch industry, whose exports rose 1.5 per cent in the same period.

The acquisition of US jeweller Harry Winston this year caused Swatch's operating profit to stagnate at 910 million francs.

However, higher financial income and profits from associated companies helped to achieve the overall profit increase.

Swatch's brands include Breguet, Omega and Tissot.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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