Swatch Group 2010 Half-Year Report Reveals Continued Timepiece Market Share Expansion

The Swatch Group has released its Half-Year Report 2010.  Among other points of interest, the report notes that sales growth has been strong at +17.7% in the Watches and Jewelry sector despite continued capacity bottlenecks and less than favorable exchange rates.  

The sales growth for the entire Group stands at +13.8% at constant exchange rates.  Despite contending with negative currency issues and steep hikes in the prices of precious metals and other raw materials, operating profit rose 16% to 593 million Swiss Francs, and operating margin stood at 21%, in contrast to 19.6% for the first half year of 2007.  

Consolidated net income saw a slight decline of 9.1 percent, credited to unrealized temporary value adjustments on foreign investments and portfolios thanks to extremely weak stock markets and exchange rates in June 2008.    

For a full Swatch Group report, please click here.