WoS Group keeps pedal to the metal in H1 financial results

Watches of Switzerland Gruop has released its financial results for the first half of this year.

The group’s revenue is up 10% (at constant currency) to £845 million, which it attributes largely to its strong US performance. Revenue was up 20% in the States, which now accounts for 59% of the company’s adjusted EBIT. This has been helped by Roberto Coin and Hodinkee’s performance in that territory.

UK trading was less spectacular but resilient, in the face of difficult economic headwinds.

The company’s dominant market position with Rolex’s CPO programme continues to bear fruit, with all US agencies now incorporating it.

Watches of Switzerland Group’s investment in its digital strategy also appears to have been shrewd, with e-commerce revenues up 17%.