Wednesday, 23rd March 2005 (4530 views)

Swatch has announced operating profit increase to £291 million last year, compared to £265 million in 2003.

The Swiss watchmaker believes the rise in profits was helped by an increase in consumer spending on luxury goods.

However, the increase was below expectations, which Swatch blamed on the weak US dollar.

Swatch makes the Omega, Tissot and Rado brands, as well as its famous colourful plastic products.

The company was positive in its outlook for this year and claimed record sales and results were an encouraging start for 2005.

 

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