Swatch Group posts sales growth

Swatch Group sales for the full year were 5.2 percent above the previous year to 7.9 billion Swiss francs.

The company said in a statement that net profit rose by 8.1 percent to 890 million francs since there was a negative currency impact of 554 million Swiss francs or 7.4 percent, which weighed on profitability. The rapid erosion of major currencies against the Swiss franc could not be offset by continuous price adjustments.