Swatch Group Announces H1 Figures

2009 first half sales for Swatch Group totaled CHF 248 billion ($2.31 billion), a 16.6 percent decline from CHF 2.973 billion ($277 billion) from the previous year. Net income for the group fell to CHF 301 million ($280.8 million) from CHF 418 million ($390 million) in the six month period.

Sales by the Swiss watch maker, however, outpaced those of its local rivals. The Swiss Watch Federation announced that exports by value for the same January-June period had dropped by 26.4 percent.

The Swatch Group is the largest watch manufacturer in the world, with brands ranging from Swatch to Tissot and Longines. It also is a large watch-parts manufacturer.