- Swiss watchmaker Swatch Group ADR SWGAY said it expected strong sales growth in all regions and segments in 2023.
- The company said after the end of the COVID measures, consumption recovered quickly not only in China but also in the surrounding Hong Kong SAR and Macau markets.
- The bright outlook reflects the lifting of travel restrictions in China and is boosting sales in tourist destinations.
- The company’s January sales growth in China reinforces its expectation for a strong 2023.
- In FY22, Swatch recorded sales growth of 2.5% over the previous year to CHF 7.49 billion.
- Operating profit increased by 13.4% to CHF 1.16 billion with an operating margin of 15.4%.
- The Management Board of the company decides on the dividend proposal at the Annual General Meeting.
- price action: SWGAY shares closed up 4.69% at $17.40 on Tuesday.
- Photo via company
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