Watches of Switzerland Group PLC (WOSGF), a luxury watches and jewelry company, on Thursday recorded a decline in pre-tax income for the full year, mainly due to higher expenses and exceptional impairment of assets. However, the Group posted a rise in revenue, helped by improved demand and a surge in luxury jewelry sales.
For the 12-month period to April 27, the company registered a profit before tax of 75.9 million pounds, lower than 92.1 million pounds last year. Excluding items, pre-tax income was 136.1 million pounds, higher than previous year's 128.9 million pounds.
Net income was 53.8 million pounds, or 22.7 pence per share, compared with 59.1 million pounds, or 24.8 pence per share, a year ago. Adjusted income per share rose to 41.6 pence per share from 38 pence per share last year.
Operating earnings were 113.9 million pounds, less than 120 million pounds in 2024.
EBITDA increased to 199.4 million pounds from the prior year's 187.8 million pounds.
Administrative expenses moved up to 43.6 million pounds from 37.5 million pounds in the previous year. Exceptional impairment of assets was negative 46.5 million pounds, compared with last year's negative 26.2 million pounds.
Cost of sales stood at 1.438 billion pounds, higher than 1.348 billion a year ago. Net finance cost was 38 million pounds, compared with the prior year's 27.9 million pounds.
Revenue was 1.652 billion pounds, up from 1.538 billion pounds a year ago. Revenue from luxury jewelry business surged to 211 million pounds from 102 million pounds in 2024, driven by the acquisition of Roberto Coin Inc.
Looking ahead, for fiscal 2026, the Group expects constant currency revenue growth of 6 to 10 percent with capital expenditure of 65 million pounds to 70 million pounds.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.