Swatch profit soars as sales rise across brands

Swatch Group AG (UHR.EB) said Wednesday that its first-half net profit rose sharply due to higher sales by all brands and in all price segments.

Net profit for the first half rose more than 70% to 458 million Swiss francs ($459.2 million) from CHF269 million a year earlier, while sales rose 15% to CHF4.27 billion, the company said.

Sales rose in all regions, led by strong growth in Asia and a double-digit increase in North America, Swatch said.

Looking ahead, the company said the second half of the year promises further growth and market-share expansion

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