Watches of Switzerland delivers on guidance after improved second half performance
Watches of Switzerland has seen its annual revenue climb by 8% in constant currency to £1.65 billion after its performance was boosted by improved trading in the latter half of the year.
In the year to 27 April, group revenue growth accelerated to 12% in the second half from 4% in the first half period.
Meanwhile, revenue across the full year rose by 2% in the UK and Europe and by 16% in the US.
Watches of Switzerland said demand for key luxury brands continued to outstrip supply both in the UK and US.
Highlights of the year included the opening of a new flagship Rolex boutique in London’s Old Bond Street and the delivery of several key Rolex projects in the US.
Brian Duffy, chief executive of Watches of Switzerland Group, said: “As we look ahead, we remain confident in the strength of our business model, our strong pipeline of showroom openings and the resilience of the luxury watch category where demand for key brands continues to outstrip supply.
“We are of course mindful of the broader macroeconomic and consumer environment, including potential US tariff changes.”
