Swatch Posts Higher Full-Year Profit
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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.