Swatch Group clocks up record figures

Net profit at the world's leading watchmaker, Switzerland's Swatch Group, reached SFr1.017 billion ($1.01 billion) last year, up 22 per cent compared with 2006.

This content was published on March 14, 2008 - 08:35

The group, which is based in Biel, said it had benefited from rising demand for its top-range watches - including Breguet and Blancpain - as part of a worldwide boom for luxury goods, particularly in China.

Turnover increased nearly 18 per cent to SFr5.94 billion, a statement said on Friday.

The Swatch Group gave an upbeat outlook for 2008, despite reporting soaring raw material prices and currency swings.

It expects sales growth as well as a rise in profitability as it benefits from the Olympic Games in China, where its Omega brand is the official timekeeper.

In compliance with the JTI standards

In compliance with the JTI standards

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