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Swatch reports rise in sales and profits despite strong Swiss franc

The Swiss watch and jewellery maker Swatch Group reported on Tuesday a full-year rise in net profit on strong demand for its luxury accessories, even though the strong franc took a toll. In 2023, net profit rose by 8.1% to 890 million Swiss francs ($1.02 billion), while sales increased by 5.2% to 7.9 billion francs despite impact of currency effects. Sales in Switzerland rose by 30% last year, while sales in the rest of Europe tended to be in the single-digit range. There were also double-digit ....

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