Watches of Switzerland Group (WOSG)

Sector:

Personal Goods

Index:

FTSE 250

358.60p
   
  • Change Today:
      4.00p
  • 52 Week High: 835.00
  • 52 Week Low: 332.20
  • Currency: UK Pounds
  • Shares Issued: 239.57m
  • Volume: 422,557
  • Market Cap: £859.10m
  • RiskGrade: 202

Watches of Switzerland Q1 revenue doubles

By Sean Farrell

Date: Tuesday 28 Jun 2022

LONDON (ShareCast) - (Sharecast News) - Watches of Switzerland's revenue doubled in the first quarter as customers snapped up Rolex and other luxury timepieces online.
Revenue rose to £297.5m in the three months to 1 August at constant currency from £151.6m a year earlier and by 46% compared with two years earlier, the company said in a trading update. Statutory revenue rose 96.2% from a year earlier.

Watch sales rose 97.1% to £259.3m and jewellery sales jumped 99% to £20.1m. The group said online sales fuelled strong UK sales, offsetting subdued store traffic. US growth was driven by higher volumes.

Watches of Switzerland has reported strong demand for its products, driven partly by people spending money stored up during lockdowns and working from home on high-end wristwear. It said the first quarter supported its confidence in the full-year outlook.

Brian Duffy, chief executive, said: "We have had a very good start to the new financial year with a further acceleration in momentum, versus pre Covid-19 pandemic growth levels, underpinned by diversified growth across our markets and categories.

"Trading in the UK has been extremely strong, driven by sustained high demand from domestic clientele. Our newly opened and refurbished stores have performed well, whilst our ecommerce business has also continued to grow impressively, proving the effectiveness of our multi-channel model."

Watches of Switzerland shares rose 2.7% to £10.52 at 09:26 BST, touching a record £10.66 in earlier trading. The shares have almost quadrupled in the past year.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WOSG Market Data

Currency UK Pounds
Share Price 358.60p
Change Today 4.00p
% Change 1.13 %
52 Week High 835.00
52 Week Low 332.20
Volume 422,557
Shares Issued 239.57m
Market Cap £859.10m
RiskGrade 202

WOSG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.29% below the market average30.29% below the market average30.29% below the market average30.29% below the market average30.29% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average
Price Trend
77.26% below the market average77.26% below the market average77.26% below the market average77.26% below the market average77.26% below the market average
53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average53.85% below the sector average
Income Not Available
Growth
80.72% above the market average80.72% above the market average80.72% above the market average80.72% above the market average80.72% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

WOSG Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 226,659 @ 358.60p
16:35 63 @ 358.60p
16:35 353 @ 358.60p
16:35 1,084 @ 358.60p
16:35 228 @ 358.60p

WOSG Key Personnel

CFO Anders Romberg

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