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Swatch Posts Higher Full-Year Profit

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Swatch Group AG (OTC: SWGAY) reported upbeat full-year earnings.

Swatch's net profit for 2013 surged 20% to 1.92 billion Swiss francs ($2.12 billion), versus 1.6 billion francs, in the year-ago period. However, analysts were estimating a net profit of about 1.73 billion francs.

Its gross sales came in at 8.82 billion francs.

Swatch shares closed at $29.42 yesterday.

Posted-In: profitEarnings News

 

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