Pound Declines as Gilts Advance on World Bank Downgrade
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Swatch Group AG, the biggest maker of Swiss timepieces, said its sales last year would have been 500 million francs ($550 million) higher if the franc were still at 2010 levels.
Gross sales increased by 14 percent in 2012 from a year earlier to 8.14 billion francs, the Biel, Switzerland-based company reported today. Net income climbed 26 percent to 1.6 billion francs, exceeding the 1.49 billion-francs average of 15 analyst estimates compiled by Bloomberg.