Swatch Profits Slow In Weak Market

Swatch profits slow in weak market

ZURICH, Feb 2, (Pakistan Point News - APP - 02nd Feb, 2017 ) - Swatch group profits were nearly halved last year as global watch market weakness took its toll, the Swiss company reported Thursday, but predicted "healthy growth" ahead. Swatch owns luxury brands such as Breguet, Omega, Longines, Hamilton and Calvin Klein watches. Net profit fell 47 percent to 593 million Swiss francs (554 million Euros, $598 million), compared with analysts' forecasts centred on 666 million. Sales were also below target at 7.5 billion francs, compared to expectations of 7.7 billion.