Shares in Watches of Switzerland Group PLC (LSE:WOSG) rose 4% on Thursday after the luxury watch retailer delivered on market expectations, helped by a stronger second half and resilient demand in both the UK and US.
Group revenue for the year to 27 April rose 8% in constant currency to £1.65 billion, with second-half growth accelerating to 12%. US sales were up 16% over the year, while the UK and Europe rose 2%.
It highlighted strong trading at its new flagship Rolex store on London’s Old Bond Street and said showroom projects and acquisitions, including Hodinkee and Roberto Coin, had progressed well. An upgraded US ecommerce site will launch this summer.
Chief executive Brian Duffy said demand for key luxury brands continues to outstrip supply, though the group remains mindful of macroeconomic risks, including the potential for US tariff changes.
In early trading, the stock advanced 16.27p to 410.27p.