LONDON (ShareCast) - (Sharecast News) - Watches of Switzerland said on Thursday annual revenues grew 5.9% despite a hit from coronavirus-related lockdowns in the final six weeks of the year.
Watches of Switzerland said revenues for the first 46 weeks of the year rose to ?819.3m, driven by some particularly strong trading pre-lockdown - with UK sales up 9.4% and US sales surging 36.4% year-on-year. Like-for-like sales were up 9.3%.

The FTSE 250-listed firm said the improved figures were driven by a 19.3% increase in luxury watches sales.

However, across the full 52-week period, UK sales ticked up just 0.6% to ?591.6m and US sales increased 22.9% to ?227.7m as the firm was impacted by the Covid-19 pandemic and associated lockdowns.

Online sales had helped pick up some of the slack, with e-commerce sales soaring 45.8%.

Watches of Switzerland now expects full-year adjusted underlying earnings to come in between ?75m and ?78m.

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