Pursuits
Swatch Foresees Strong End to Year After Slow First Half
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Swatch Group AG, the maker of $50 colorful namesake watches as well as $5,000 Omega timepieces, forecast a strong end to the year after first-half profit growth slowed by a smaller margin than analysts’ predicted.
Net income increased 6.1 percent to 768 million Swiss francs ($820 million), the Biel, Switzerland-based company said today in a statement. That beat the 747 million-franc average of five estimates compiled by Bloomberg. Profit rose 27 percent in the second half of 2012.