Swatch Reports Better First-Half Sales but Misses Profit Forecasts

17 hours ago 7

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Net ​sales rose 8.5 percent year on year ​at constant exchange rates, but the Swiss group’s profit was hit by negative currency effects.

A Swatch sign hanging above a store.

Swatch reports better first-half sales but misses profit forecasts. (Getty Images)

Swiss watchmaker Swatch Group reported improved first-half sales on Tuesday but missed ‌profit forecasts as the owner of the Omega, Longines and Tissot watch brands was hit by negative currency effects, sending its shares lower.

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