Anastasia
3
All posts from Anastasia
Anastasia in ...,

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.

Source