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Swiss watchmakers keep wary eye on China

Agence France-PresseApril 22, 2013 23:01
The world's biggest watch fair is set to open this week in Basel amid growing uncertainty over whether the industry can keep up its momentum and rake in another year of record sales in China. "The question at Baselworld will be to understand what is happening in mainland China," Kepler Capital Markets analyst Jon Cox told AFP ahead of the event, warning that the Chinese market prospects now seemed increasingly fragile.

UPDATE 3-Swatch's upbeat view stokes hopes China demand improving

February 4, 2013 09:00
* FY net profit up to 1.61 bln Sfr vs 1.48 bln in poll * Says 2013 started well, healthy growth in January * Purchase of Harry Winston jewellery taps into high-end demand * Sees healthy growth potential for watch industry By Silke Koltrowitz

Swatch says net profit up 26% to 1.6 bn Swiss francs

February 4, 2013 07:33
The world's biggest watch-making group Swatch said on Monday its net profit soared 26 percent last year, beating market expectations and boosting its share price. Swatch, most known for its brightly coloured plastic-cased watches saw its net profit balloon to 1.6 billion Swiss francs (1.3 billion euros, $1.76 billion). Hailing "a high level of capacity utilisation, innovative production methods and traditionally strong cost controls," the group also said its operating profit swelled nearly 23 percent year-on-year to 1.98 billion Swiss francs.

Swatch says net profit up 26% to 1.6 bn Swiss francs

February 4, 2013 04:30
The world's biggest watch-making group Swatch said on Monday its net profit rose 26 percent to 1.6 billion Swiss francs (1.3 billion euros, $1.76 billion), beating market expectations. Swatch, most known for its brightly coloured plastic-cased watches, said "thanks to a high level of capacity utilisation, innovative production methods and traditionally strong cost controls, operating profit increased to 1,984 million Swiss francs, a rise of 22.9 percent compared to 2011."

UPDATE 5-Swatch buys "diamond king" Harry Winston's luxury arm

January 14, 2013 12:30
* Enterprise value of $1 billion * Harry Winston mining arm renamed Dominion Diamond Corporation * Swatch, Harry Winston shares rise By Silke Koltrowitz and Clara Ferreira-Marques ZURICH/LONDON, Jan 14 (Reuters) - Switzerland's Swatch has agreed to buy the high-end jewellery arm of Harry Winston in a $1 billion deal which expands the watchmaker's luxury offering and leaves the Canadian group to concentrate on its diamond mines.

UPDATE 4-Swatch buys Harry Winston jewellery arm for $750 mln

January 14, 2013 09:45
* Acquisition includes $750 mln in cash, $250 mln net debt * Mining arm renamed Dominion Diamond Corporation * Deal seen as reasonably priced, Swatch shares rise 3 pct * Harry Winston made famous by Marilyn Monroe By Silke Koltrowitz

UPDATE 3-Swatch buys Harry Winston jewellery arm for $750 mln

January 14, 2013 06:45
* Acquisition includes $750 mln in cash, $250 mln net debt * Mining arm renamed Dominion Diamond Corporation * Swatch CEO says sales could top 9 bln Swiss francs in 2013 * Harry Winston made famous by Marilyn Monroe By Silke Koltrowitz

European shares slip from near two-year highs

January 10, 2013 13:00
PARIS, Jan 10 (Reuters) - European shares fell on Thursday, with a pan-European index slipping from a near two-year high hit earlier in the day, as comments from Swatch's CEO on the outlook for Swiss watch exports hurts luxury shares. A number of traders also mentioned market talk of a significant move in the derivatives market as the reason behind the late-session selloff.
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