×
469
Fashion Jobs
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Officer Hrbp / Business HR For Garment/Textile/Apparel Industry
Permanent · Bengaluru
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Mumbai
Permanent · Bengaluru
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales - Rajahmundry
Permanent · Rajahmundry
ZYDUS WELLNESS
Zydus Wellness - Factory Manager - Sikkim Plant
Permanent · Atlanta
ANUSHÉ PIRANI
Social Media & Fashion Communications
Permanent · MUMBAI
HARSH CLEAN DHAN PVT. LTD
Area Sales Manager (Modern Trade Sales) For North East
Permanent · Guwahati
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
VR INDUSTRIES PVT. LTD
Area Sales Manager
Permanent · Chennai
G.R. BATHLA & SONS
Marketing Executive/Area Sales Manager
Permanent · Ludhiana
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Cutting Manager/Production Head - Garments Industry
Permanent · Bhiwandi
KALPA ELECTRIKAL PVT. LTD
Hiring For Production in Charge/ Manager (8-15 Yrs Exp)
Permanent · Bengaluru
TARGET PUBLICATIONS
Regional Sales Manager
Permanent · Mumbai
THE BANYAN HR CONSULTS
Head HR For Garments Manufacturing Company at Chengalpattu, Tamil Nadu
Permanent · Chennai
IUMENTAS LIFE SCIENCE
Veterinary Sales Manager For The State of Assam
Permanent · Guwahati
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Plastic Manufacturing Company| Umbergaon
Permanent · Navsari
By
Reuters
Published
Feb 9, 2010
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swatch full-year profit beats poll, upbeat on 2010

By
Reuters
Published
Feb 9, 2010

By Katie Reid

ZURICH (Reuters) - Swatch Group (UHR.VX), the world's largest watchmaker by sales, posted a forecast-beating full-year profit and confirmed its upbeat outlook for 2010, easing worries a flagging economic recovery may hit demand.

Swatch
Speedmaster Professional Moonwatch Apollo 11 from Omega

Net profit fell 9 percent to 763 million Swiss francs ($710 million), ahead of the average estimate of 698 million francs in a Reuters poll.

Swatch Group expects demand for its timepieces to tick higher this year thanks partly to key brand Omega's role as the official timekeeper at this year's Winter Olympics in Vancouver.

The impressive profit number adds to growing signs the watch industry may be emerging from its most severe slump in demand in decades and comes after a flurry of positive comments from other luxury goods makers such as Hermes (HRMS.PA), LVMH (LVMH.PA) and Burberry (BRBY.L).

"The main reasons for this positive outlook are the excellent start in 2010, increasing order entries as well as the improving economic environment and market confidence worldwide," Swatch Group said in a statement.

The group behind top-end watch brands such as Blancpain and Breguet said last week it is aiming for a record year in 2010 as demand for its timepieces rebounded in recent months.

BEATING EXPECTATIONS

"The 2009 figures are clearly ahead of expectations and we have to increase our EPS estimates by roughly 10 percent," Vontobel analyst Rene Weber said, adding the only slightly negative surprise was the cut in the dividend to 4.00 francs per bearer share from 4.25 francs a year ago.

One Zurich-based trader said the results were likely to boost shares in the group, which have come under pressure recently as investors have sought to lock in profit on the stock after a recent rally.

Swatch Group's operating margin dropped to 17.6 percent from the 21.2 percent posted in the year ago period, but profitability picked up in the second half and the full-year figure beat expectations. Stronger sales are seen boosting profitability this year.

Swiss rival Richemont (CFR.VX) last month posted forecast-beating sales over the Christmas period thanks to booming sales in the Asia-Pacific region, while independent watchmakers Girard-Perregaux and Parmigiani Fleurier expect the wealthy to splash out on pricey wares this year.

(Editing by Sharon Lindores)

($1=1.074 Swiss Franc)

© Thomson Reuters 2021 All rights reserved.