Swatch Group HY Net Income Rises; Says H2 Of 2018 Promises Further Growth

Swiss watch and jewelry maker Swatch Group (SWGAF.PK,SWGNF.PK) reported that its net income for the half-year of 2018 increased by 66.5% to 468 million Swiss francs, with a net margin of 11.0%, compared to the previous year with 7.6%.

Operating result increased 69.5% to 629 million francs. Operating margin improved from 10.0% in the previous year to 14.7%.

Group net sales increased 14.7% to 4.266 billion francs at current exchange rates, respectively by 12.6% at constant rates.

The company said, “The month of July continues the very positive trend. The second half of the year offers excellent opportunities for continued strong growth and further expansion of market share. Consumer demand, particularly from millennials, for authentic innovative brand products is greatly increasing on a worldwide scale, regardless of region or price segment.”

by RTTNews Staff Writer

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