Business
FY23 Results
FY23 Results.
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n\n13 July 2023\n\nWatches of Switzerland Group PLC\nFY23 Results\nfor the 52 weeks to 30 April 2023\n \nRecord year of revenue, profitability and return on capital employed\nEntering FY24 well-set for further growth and significantly ahead of Long Range Plan\n \nBrian Duffy, Chief Executive Officer, said:\n\"Our record performance is testament to our unique combination of longstanding luxury brand partnerships, dedicated colleagues focused on delivering exceptional client service, and our well-invested network of showrooms, which are supported by leading multi-channel capabilities. Luxury watch demand remains strong and continues to outpace supply, with our client registration lists extending and average selling prices growing.\n \n\"We have been busy expanding our international network of showrooms, adding a total of 28 across the UK, US and Europe, whilst also upgrading a further 13 showrooms, including the rollout of our Goldsmiths Luxury format. Our Xenia Client Experience Programme, which we have now introduced across our business, elevates our client service proposition even further, taking inspiration from the world of luxury hospitality. We take great pride in doing what we can to care for our people, our communities and our planet, and are pleased to have achieved an MSCI ESG Rating of AAA in recognition of our ESG credentials.\n \n\"We start the new financial year with some great projects, with the opening of our Watches of Switzerland showroom at American Dream in New Jersey, upgrading and relocating our Mayors showroom in Dadeland Florida, the first opening of our new Mappin & Webb contemporary showroom design, and five mono-brand boutiques in the UK and Europe including our first showroom in Germany. We reiterate our guidance for FY24 which reflects our continued confidence in the strength of our organic growth strategy, whilst we continue to actively pursue additional inorganic growth opportunities to enhance that growth.\n \n\"We enter FY24 significantly ahead of where we expected to be when we presented our Long Range Plan in 2021, and we look forward to presenting our Long Range Plan update, which will outline our growth ambitions beyond FY26 to FY28, in Autumn this year.\"\n \n \n\n\n\n\n \n£million\n\n\n52 weeks ended\n30 April 2023\n\n\n52 weeks ended\n1 May...