Swatch Group 2006 Net Profit Soars

Swatch Group reported a net profit of 830 million CHF ($685.7 million), up from 621 million ($513 million) in 2005. Following the good results, Swatch will raise its dividend per bearer share from 2.50 CHF to 3.50 CHF, and to 0.70 CHF per registered share, from 0.50 CHF in 2005.

Group net sales reached 4.82 billion CHF ($3.982 billion), rising 4.292 billion CHF ($3.55 billion) in the prior year.

Sales by the Watches & Jewellery segment were the leading driver of 2006 growth, rising 13.8 percent. The Electronic Systems segment grew nine percent.

After a strong start to the year, Swatch expects sales growth and profitability in 2007.