Arab Today, arab today swatch reports net profit growth slows
Last Updated : GMT 18:41:28
Arab Today, arab today
Arab Today, arab today

Swatch reports net profit growth slows

Arab Today, arab today

Arab Today, arab today Swatch reports net profit growth slows

Geneva - AFP

The world\'s biggest watch-making group Swatch reported on Tuesday that net profit growth slowed in the first half of the year, but still beat analysts\' expectations. The company, most known for its brightly coloured plastic-cased watches and which in recent years has accustomed investors to double-digit growth, reported that the net figure rose by 6.1 percent. Net profit amounted to 768 million Swiss francs ($820 million, 622 million euros) during the first six months of the year. Swatch Group sales meanwhile ticked in 8.7 percent higher at 4.1 billion Swiss francs, the company said in its earnings statement. The watchmaker stressed that it was the victim of its own success last year, with growth appearing weak compared to \"the very strong first half year 2012.\" The net profit was slightly higher than the 733 million francs expected by analysts polled by the AWP financial agency, while the sales were in line with expectations. In recent years, the Biel-based group has seen its business balloon on a seemingly insatiable appetite by Chinese consumers for luxury watches, but company chief Nick Hayek warned in March that the massive growth could not go on forever. Over the last six months, Swiss watch exports to China have slowed, in part owing to a recent ban on ads for extravagant gifts in an anti-corruption push. Earlier this month the French luxury products group Hermes reported signs of a slowing of demand in China for its watches. Swatch nonetheless said the outlook for the remainder of the year remained \"very promising,\" stressing that \"a strong second half-year is expected.\" While Swatch\'s low-end plastic watches are perhaps its most recognisable, the Swiss company operates in every price range, from the Flik Flak children\'s watches to prestigious timepieces under for instance the Breguet brand which can cost more than one million Swiss francs each. The watchmaker said on Tuesday that it aimed to launch a number of new products in coming months and that it would continue to work to integrate recently purchased US jeweller and watchmaker Harry Winston. Following the announcement, the price of shares in Swatch Group rose by 1.89 percent to 539.50 Swiss francs in early trading, well ahead of the Swiss stock exchange\'s main index, which dipped 0.20 percent.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swatch reports net profit growth slows Arab Today, arab today swatch reports net profit growth slows

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swatch reports net profit growth slows Arab Today, arab today swatch reports net profit growth slows

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday