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Swatch Group 2018 Profit Rises

Swiss watch and jewelry maker Swatch Group (SWGAF.PK,SWGNF.PK) reported that its net income for fiscal year 2018 increased 14.8% to 867 million Swiss francs, from the prior year.

Earnings per registered share amounted to 3.23 francs, compared to 2.77 francs in the previous year.

Group net sales increased by 6.1% to 8.475 billion francs at current exchange rates, while it was up 5.7% at constant rates.

At the Annual General Meeting on 23 May 2019, the Board of Directors of the Swatch Group will propose a dividend increase of 6.7% to 8.00 francs per bearer share and 1.60 francs per registered share (previous year 7.50 francs per bearer share and CHF 1.50 per registered share).

The Swatch Group anticipates healthy growth in 2019, despite the strong comparison basis in the first half of 2018. Demand is good and production problems and bottlenecks, particularly in the Habillage sector, will be resolved in the first semester. Further expansion of e-commerce, mainly in the middle and basic range, will open additional possibilities. The leadership position of the Swatch Group in China will become a major opportunity for the Group in 2019, even if ongoing market turbulence remains disruptive. Additional gains in market share are expected in Japan and the USA in 2019.

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