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Swatch Earnings Decline for First Time in Five Years

Swatch Group AG (UHR), the biggest maker of Swiss watches, reported the first drop in first-half earnings in five years as the weakness of currencies against the Swiss franc reduced the value of sales from abroad.

Operating profit fell to 830 million Swiss francs ($924 million), Biel-based Swatch said today in a statement. That compares with the 849.5 million-franc average estimate of analysts surveyed by Bloomberg News.