Watches of Switzerland have seen a rise in its profits despite the huge effects of the Covid-19 lockdown.
Pre-COVID 19, Watches of Switzerland was trading strongly with positive momentum and despite the ongoing effects of lockdown, the retailer has had a successful year.
During the year to April 26, the luxury watch group’s EBITDA rose by 13.6% to £78.1m with operating profit climbing 6.2% to £48.3m over the same period. Meanwhile group revenues across the full year increased 4.8% to £810.5m.
Watches of Switzerland said it expects 2020/21 revenue to come in between £840 million £860 million.
