Watches of Switzerland posts big jump in full-year profit and sales

Watches of Switzerland posted a big increase in full-year sales and profits.

Group sales increased by 19% at constant currencies to reach £1.54bn, helped by an especially strong showing in the U.S..

That drove a 23% jump in statutory profits before tax to £155m, while free cash flow strengthened 30% to £146m.

The watchmaker also reiterated its guidance for its 2024 financial year, voicing confidence in the outlook for organic growth, even as it continued "to actively pursue additional inorganic growth opportunities to enhance that growth."

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