July 18, 2018 / 4:44 AM / 2 years ago

Swatch Group expects growth after H1 net jumps 67 percent

ZURICH, July 18 (Reuters) - Swatch Group said on Wednesday it expected further growth in the second half of the year after net profit rose by 67 percent in the first half, helped by improving demand for Swiss watches in Asia and America.

Swiss watchmakers have seen sales bounce back this year after a prolonged downturn and margins and profits are now following suit.

“The month of July continues the very positive trend. The second half of the year offers excellent opportunities for continued strong growth and further expansion of market share,” said the world’s biggest watchmaker, whose portfolio spans expensive Breguet, flashy Omega, elegant Longines and sporty Tissot timepieces. (Reporting by Silke Koltrowitz, editing by John Miller)

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