Swatch Group posts record operating profits

First published: 07-02-2014

Swatch Group has announced it increased its operating profit by 17 per cent in 2013 to 2.3 billion Swiss francs (£1.56 billion).

The Swiss company currently owns over 20 brands including Swatch, Omega and Breguet - making it the largest in the world.

An annual turnover increase of 8.3 per cent to 8.8 billion Swiss francs was also posted.

The record figures, which are impressive due to the tough trading nature of the watch environment last year, also allowed Swatch Group to increase its workforce.

Around 3,800 staff were hired which brought the total employee count to over 33,600 worldwide, a rise of ten per cent.

The company credits its success to its strong brands and distribution system, which now includes Rivoli Investment - a network with more than 360 stores in the Middle East.

Strong sales in January also suggests that Swatch Group will see healthy growth throughout 2014.

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