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Swatch's Profit +26% in 2012

Feb 4, 2013 5:28 AM   By Deena Taylor
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RAPAPORT... The Swatch Group reported that that its net income rose 26 percent year on year to $1.78 billion (CHF 1.61 billion) in 2012 and is subsequently optimistic about its long-term growth prospects going into 2013. Signs from global markets clearly indicate continued healthy growth for the Swiss watch industry and the Swatch Group, according to the company.

Swatch noted that strong growth during the month of January justified a positive outlook for 2013, and it suggested growth in the range of 5 percent to 10 percent this year.

The group's recent purchase of Harry Winston to its jewelry retail brand portfolio is also likely to have a positive effect on the company's growth. This past month, the Swiss watchmaker reported that its gross sales increased 14 percent year on year to $8.94 billion (CHF 8.14 billion), exceeding its $8.78 billion (CHF 8 billion) target.
Tags: Deena Taylor, Harry Winston, Swatch, swatch group
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