Swatch group posts full-year profit

Swiss watch and jewelry maker Swatch Group (SWGAF.PK, SWGNF.PK) reported that its net income attributable to shareholders for fiscal year 2021 was 765 million Swiss francs compared to a net loss of 51 million francs in the previous year. Earnings per registered share was 2.95 francs compared to a loss of 0.20 francs in the prior year.

Operating profit climbed to 1.02 billion francs from 52 million francs in the previous year.

Annual net sales were 7.31 billion francs, an increase of 30.7 percent from the previous year at current exchange rates or 29.6 percent at constant rates.

At its next meeting, the Board of Directors will decide on the dividend proposal to the Annual General Meeting, the company said in a statement.

For 2022, the Group anticipates double-digit sales growth in local currencies.(DPA)