Watches of Switzerland Group PLC - Leicester, England-based watch retailer - Records revenue increase of 39% to GBP304 million in the final quarter to May 1 from GBP218 million in the same period a year before. Reports full-year revenue of GBP1.24 billion, up 37% from GBP905 million the year before. Credits the growth to strong demand for its products in the UK and US. Notes that the demand for luxury watches in financial 2022 consistently exceeded supply. Assumes that the disruption from the pandemic is now largely behind it with the ongoing recovery in footfall and airport traffic. Guides for financial 2023 revenue between GBP1.45 billion to GBP1.50 billion.
Current stock price: 992.00 pence
12-month change: up 32%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Watches Switz (WOSG)
