Business
FY22 Results
FY22 Results.
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n \n \n \n 7 July 2022\n \n \n \n \n \n \n \n \n \n \n Watches of Switzerland Group PLC\n \n \n \n \n FY22 Results\n \n \n \n for the 52 weeks to 1 May 2022\n \n \n \n \n \n \n Record sales and profits; revenue +40%1 and Adjusted EBIT2 +68%\n \n \n \n \n Performance driven by strength of model, good market conditions and international development. Strong start to FY23 with waitlists extending.\n \n \n \n \n \n \n \n Brian Duffy, Chief Executive Officer:\n \n \n \n \n \n \n \"This has been a tremendous year for the Group, producing record sales and profits. It is particularly pleasing to have delivered this performance against such strong prior year comparatives, with the expertise and dedication of my colleagues proving invaluable.\n \n \n \n \n \n \"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. Taken together, these inherent strengths have seen us attract new consumers and continuously gain market share, strengthening our position as the destination for luxury watches and luxury jewellery.\n \n \n \n \n \n \"Our sustained capital investment has continued to support our growth plans. We have seen a strong performance from our recently opened and refurbished showrooms in the UK and US, and we have big plans for our European business. In addition, I am pleased that a year on from launch, we have donated £4.5 million to The Watches of Switzerland Group Foundation, in order to support the communities in which we operate.\n \n \n \n \n \n \"We enter FY23 with strong momentum with consumer demand continuing to outpace supply, and within this environment, we are benefitting from our strength both in showrooms and online.\n \n \n \n \n \n \"Watches of Switzerland is uniquely positioned within a large and growing market, and we look to the future with confidence as we focus on capitalising on the considerable sustainable growth opportunities available to us.\"\n \n \n \n \n \n \n \n \n \n \n FY22 Financial Highlights\n \n \n \n \n \n Revenue performance by geography\n \n \n \n \n \n \n \n \n \n £ million\n \n \n \n \n 52 weeks ended 1 May 2022\n \n \n \n \n 53...