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Swatch profit surges 25% Tuesday, 24th July 2012
Photo credit: Swatch Group campaign
The Swiss watch maker rose the most in more and a month during Zurich trading after revealing a 25 per cent rise in first-half profit, beating analysts’ estimates.
Swatch stock gained as much as 4 per cent to CHF 376.3, its biggest increase since 7 June.
Net income for the group rose 25 per cent to CHF 720 million, from CHF 575 million a year before.
Operating profit for the Biel-based company rose 19 per cent to CHF 903 million, comfortably beating the Bloomberg analysts’ average estimate of CHF 862 million.