ZURICH-- Swatch Group AG (UHR.VX) Tuesday reported a 25%
increase in first-half net income as it boosted sales and cut
costs, and said the prospects for the rest of the year are
promising, and is targeting record sales of 8 billion Swiss
francs.
MAIN FACTS:
- Sales in the Watches and Jewelry segment grew once again by a
strong 16.7% to CHF3.40 billion.
- Group gross sales were up 14.4% to CHF3.85 billion, surpassing
the record 2011 half-year figure.
- Operating profit increased 19.4% to CHF903 million,
corresponding to an operating margin of 24.5%, compared with 23.7%
in 2011.
- Net income reached CHF724 million up 25% on the first half of
2011, 19.7% on net sales, compared with 18.2% in 2011.
- The Group's prospects for the second half-year are promising,
and several key brand events will highlight the second half of the
year.
- The Group clearly sees more opportunities than risks for the
future, despite some negative trends such as in the exchange rate
and euro situation and a certain weakening in the high-end segment
in parts of Greater China.
- Its goal remains to achieve a record CHF8 billion in sales for
this year.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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