Tue Feb 7, 2012 1:27am EST
* Net profit up 18.1 pct
* Poll was for FY net income to rise 18.5 pct
* Intends to pay dividend of 5.75 francs per bearer share
* Sees good start to 2012
ZURICH, Feb 7 (Reuters) – The world’s biggest
watchmaker Swatch Group posted an 18 percent rise in
2011 net income, broadly in line with expectations, that will
allow it to boost its payout to shareholders, and said it had
seen 2012 start successfully.
Buoyant Chinese appetite for luxury watches helped the
sector post sales growth of about 20 percent in 2011 but experts
said the pace was likely to slow to 5-10 percent this year as
sluggish demand in mature markets takes its toll.
“We expect growth to continue in 2012, although this is more
and more challenging due to the high benchmark,” it said in a
statement on Tuesday, adding that in January it had already seen
with double-digit growth in the watches and jewelry segment.
Net profit for last year rose 18.1 percent to 1.276 billion,
said the firm. Analysts polled by Reuters had expected an 18.5
percent rise in net income after minorities to 1.273 billion.
Swatch Group, which is known for its colourful plastic
watches but also owns high-end brands such as Omega and Breguet,
said last month its sales rose to a record 7.1 billion Swiss
francs in 2011.
LVMH, the world’s biggest luxury goods group, said
last week it was confident for 2012 despite economic
uncertainties in Europe.
(Reporting by Silke Koltrowitz)
