SWGAY Swatch Group AG (PK)

   By Anthony Shevlin 
 

Swatch Group AG (UHR.EB) said Wednesday that net income in the first half fell but that the company expects strong growth in the second half.

The Swiss watchmaker said net profit for the six months ended June 30 was 404 million Swiss francs ($409.5 million) compared with CHF458 million the year previous.

Sales for the period were CHF4.08 billion, down 3.7% at constant exchange rates.

Swatch said it expects strong growth in the second half on solid demand in its most important markets and easier comparatives because of a weak final quarter the year previous.

"The group expects positive sales growth for the entire year in comparison to the previous year," Swatch said.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

July 17, 2019 01:26 ET (05:26 GMT)

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