July 17, 2019 / 5:10 AM / 5 months ago

Swatch Group first half net profit falls 11.3%

ZURICH, July 17 (Reuters) - Swatch Group reported a 11.3% fall in first half of 2019 as the Swiss watch maker’s sales fell and profitability was squeezed.

The maker of Omega and Longines timepieces said sales fell 4.4% at current rates to 4.078 billion Swiss francs ($4.13 billion), while net profit fell to 415 million francs from 468 million francs a year earlier.

$1 = 0.9871 Swiss francs Reporting by John Revill

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