StockMarketWire.com - Watches of Switzerland reported profit that more than doubled in the first half of the year, driven by ongoing strong demand for luxury watches and jewellery.

For the 26 weeks ending 31 October 2021, pre-tax profit rose to £64.7 million from £36.2 million year-on-year as revenue increased 44.6% to £586.2 million.

Group ecommerce sales grew +28.7% on last year.

The third trading to date supported the full year guidance upgraded on 9 November 2021, the company said, adding that it was well stocked for the Holiday trading period.

'The group does not expect the return of tourism and airport business to pre-pandemic levels during the year,' it added.




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