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The Markets
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Proactive UK has moved.
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Retail

Watches of Switzerland will be looking to tick off more records

The jeweller has expressed confidence in the strength of the luxury end of the market

Investors in jeweller Watches of Switzerland Group PLC (LSE:WOSG) will be hoping the record trading from the previous year continues when it posts first-quarter results on Tuesday.

In its full-year results issued at the start of July, the FTSE 250 group posted its highest ever sales and profits, with revenues up 40%.

Additionally, the group said in terms of outlook it expects its “strong momentum” to continue now disruption caused by the pandemic is largely behind it, with ongoing traffic and footfall at airports.

WoS was also confident in the strength of luxury watches against the backdrop of inflation and geopolitical.

Despite all this, the share price has tumbled in the year, down 43% to 862p, so a good set of results once again may not even revive the share price.

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