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| Name | Symbol | Market | Type |
|---|---|---|---|
| Swatch Group AG (PK) | USOTC:SWGAY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.11 | 1.07% | 10.41 | 10.28 | 10.45 | 10.47 | 10.3112 | 10.46 | 94,850 | 21:05:21 |
From Jul 2019 to Jul 2024
By Anthony Shevlin
Shares in Swatch Group AG (UHR.EB) trade higher on Wednesday after the company guided for strong growth ahead despite a fall in first-half profits.
The Swiss watchmaker sees strong growth in the second half due to solid demand in its most important markets and easier comparatives because of a weak final quarter the year previous.
At GMT 0712 shares in Swatch traded 4.8% higher at CHF303.40.
The company said net income in the first half fell to 404 million Swiss francs ($409.5 million) from CHF458 million the year prior.
Sales for the period were CHF4.08 billion, down 3.7% at constant exchange rates.
Citi analysts said Swatch's outlook for the second half is "positive" and said its first-half sales miss was largely driven by the rationalization of gray-markets dealers.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
July 17, 2019 03:35 ET (07:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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