Swatch Sees Strong 2nd Half Growth After 1st Half Profits Fell
July 17 2019 - 1:41AM
Dow Jones News
By Anthony Shevlin
Swatch Group AG (UHR.EB) said Wednesday that net income in the
first half fell but that the company expects strong growth in the
second half.
The Swiss watchmaker said net profit for the six months ended
June 30 was 404 million Swiss francs ($409.5 million) compared with
CHF458 million the year previous.
Sales for the period were CHF4.08 billion, down 3.7% at constant
exchange rates.
Swatch said it expects strong growth in the second half on solid
demand in its most important markets and easier comparatives
because of a weak final quarter the year previous.
"The group expects positive sales growth for the entire year in
comparison to the previous year," Swatch said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com;
@anthony_shevlin
(END) Dow Jones Newswires
July 17, 2019 01:26 ET (05:26 GMT)
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