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Swatch Group continues to grow in the first half of 2023. Accordingly, the watch company managed to increase its sales by 11.3 percent to 4.02 billion francs.
Growth also had a positive impact on results: operating profit EBITDA rose 37 percent to 686 million francs and consolidated profit increased 56 percent to 498 million francs. Thus, Swatch clearly exceeded analysts’ targets in terms of both profit figures and sales.
Group management around company boss Nick Hayek expects further growth. Growth opportunities in local currencies are “excellent” in all regions and price segments for the second half of 2023. Hayek describes the negative currency environment as the single drop of pain. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
