Swatch: makes net loss in first half

(CercleFinance.com) - Swatch has announced a net loss of 308 million Swiss francs (c.
289 million euros) for the first six months of 2020, compared with a net profit of 415 million Swiss francs a year agp, with net sales tumbling 46.1% to 2.2 billion Swiss francs (-43.4% at constant exchange rates).

While the Swiss watch manufacturer recorded an operating loss of 327 million, it points out that its operating result was once again positive in June, and is expecting a strong H2, with a positive FY operating profit.

Swatch believes that "The positive outlook is strengthened by the new products which will be launched in the second half of the year, as well as the lower cost base," with the relaxation of measures against the Covid 19 pandemic.


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