SWATCH CLOCKS UP RECORD RESULT

SWATCH, the world’s largest watchmaker, yesterday reported a 54 per cent increase in profits for the first six months of the year. Net profit rose to SwFr465m (£280m) on record gross sales of SwFr3.03bn. The group, best known for its colourful plastic Swatch watches but also owns higher-end brands such as Breguet, Blancpain and Omega, expects record profits for the full-year.