Full Year Results 

Watches of Switzerland's grand debut

Watches of Switzerland's grand debut

Having listed on the main market in June, Watches of Switzerland (WOSG) seems to be ticking along nicely. Adjusted cash profits rose by 18 per cent to £68.8m for FY2019. Accounting for 82 per cent of group sales, luxury watch revenue surged by 28 per cent to £631m, with average selling prices increasing in the UK and US by 10 per cent and 5 per cent, respectively. Having said that, the deliberate shift towards luxury products has dampened the net margin by 0.4 percentage points to 37.5 per cent.

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