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Prices & Quotes - UK Markets - Watches of Switzerland Group (WOSG)

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Share Price:
Up 1,392.00p
Change Today:
44.00p
Market Cap:
3,333.22m
Sector:
Personal Goods

Watches of Switzerland reports record results

By Sean Farrell

Date: Thursday 08 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Watches of Switzerland said trading was strong in the current financial year as the luxury watch retailer reported record results.
Adjusted earnings before interest, tax, depreciation and amortisation rose 35% to 105.4m in the year to 2 May from a year earlier. Revenue increased 13.3% at constant currency to 905.1m and was up 18% from two years earlier.

Pretax profit rose to 63.7m from 1.5m a year earlier.

The FTSE 250 group sells watches made by Rolex, Omega and other luxury brands in the UK and the US. Business has boomed as trading has moved online and people have spent money saved during lockdowns on upmarket watches.

Brian Duffy, chief executive, said: "I am delighted to report a year of strong growth. The luxury watch market remains predominantly supply-driven with demand exceeding product availability for key brands and models.

"Trading has remained strong in both the UK and the US since the year end. Our customer has accumulated disposable wealth and our category is an attractive option. Our growth projections reflect our best estimate of future supply based on our past experience of investment and expansion."

Watches of Switzerland stuck to earlier guidance for sales to increase by 16-21% in the current year with profitability broadly flat. The company's shares, which have almost tripled in the past year, fell 1.9% to 839p at 09:06 BST. The shares hit a record 882p on 2 July.



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WOSG Market Data

Currency UK Pounds
Price 1,392.00p
Change Today 44.00p
52 Week High 1,416.00p
52 Week Low 490.00p
Volume 897,640
Shares Issued 239.46m
Market Cap 3,333.22m
Beta 0.57

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WOSG Dividends

No dividends found

Trades for 29-Nov-2021

Time Volume / Share Price
16:37 301 @ 1,392.00p
16:35 108,269 @ 1,392.00p
16:29 58 @ 1,392.00p
16:29 2 @ 1,392.00p
16:29 69 @ 1,392.00p

WOSG Key Personnel