Swatch Group First Half Sales and Profits Jump to Record Levels
Swatch Group’s gross sales for the first half of 2010 exceeded SFr.3 billion for the first time ever, topping the 2008 record, and the future looks bright, thanks largely to China and Russia. The Group’s Chief Executive Nick Hayek told Reuters “We do not see what could keep us from achieving record sales and profit in 2010,” though he added that exchange rates and gold prices present continued risk. Net income rose 54.5% to SFr.465 million while operating profit rose 81.4% to SFr.626 million. Operating cash flow, at SFr.633 million, was SFr.386 million higher than in the prior-year period (SFr.247 million). Net cash and equivalents rose to SFr.1.33 billion, compared with SFr.1.1 billion at the end of 2009.Sales increased in the United States and in Europe, excluding Greece. “The U.S. will grow also in the second half, they have to catch up. I also expect strong growth in Western Europe,” Hayek said. He added that the second half, with the holiday sho

Time Test: Tag Lines
How well do you know your tag lines? We've chosen 15, and your goal is to match them up with their brands. Whether you’re dedicated to perfection or living your passion, embrace some adventure and begin your own tradition with this quiz. You'll be tested beyond endurance, but we're sure others will follow. Answers appear at the end.

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