Boss of luxury goods retailer Watches of Switzerland said it had been a “tremendous” year for the firm today as it reported a 98 per cent jump in pre-tax profits for the full year.
Group pre-tax profits hit £126m, up from 64m last year, as record sales pushed revenues up 40 per cent to £810m across the group.
The firm also boosted earnings margins to 13.1 per cent which it said was down to a “favourable product mix and operational leverage”.
Boss Brian Duffy said he had expected growth to continue in the year ahead.
“We are undoubtedly operating in a growing segment, but it is our distinctive and proven business model, the strength of our brand partnerships, our international scale, our bold marketing campaigns and our dedication to client service which sets us apart,” he said.
He added that the firm would be doubling down on growth in the year ahead with “big plans for our European business.”