Pursuits
Swatch 2012 Profit Rises 26% as Asia Tourists Buy Watches
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Swatch Group AG, the biggest maker of Swiss timepieces, reported a 26 percent increase in 2012 profit as the company produced more watches and took advantage of expanded production capacity at its factories.
Net income rose to 1.6 billion Swiss francs ($1.8 billion), the Biel, Switzerland-based company said today in a statement. Analysts expected 1.49 billion francs, according to the average of 15 estimates compiled by Bloomberg.