Business
H1 FY23 Results
H1 FY23 Results.
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n \n \n \n 14 December 2022\n \n \n \n \n \n \n \n \n \n \n \n Watches of Switzerland Group PLC\n \n \n \n \n H1 FY23 Results\n \n \n \n for the 26 weeks to 30 October 2022 (H1 FY23)\n \n \n \n \n \n \n Strong H1 performance with ongoing market share gains\nQ3 trading to date in line with expectations, FY23 guidance reiterated\n \n \n \n \n \n \n \n \n \n Brian Duffy, Chief Executive Officer, said:\n \n \n \n \"I am pleased with our strong performance in the first half of the financial year which reflects our leadership position and the strength of our longstanding brand partnerships as we continue to take market share.\n \n \n \n \n \n \"Our proven business model, international scale, bold marketing and dedication to client service truly sets us apart, and our client registration lists continue to extend as we continue to attract new clients as well as retain a loyal base of existing ones.\n \n \n \n \n \n \"We continue to expand our retail network, opening a total of 20 showrooms across the UK, US and Europe in the first half of FY23, and to invest in elevating the luxury experience for our clients through showroom refurbishments. We have an exciting and growing pipeline of new projects, and I am delighted to announce our third Watches of Switzerland multi-brand showroom in Manhattan at One Vanderbilt anchored by OMEGA and Cartier due to open in 2023.\n \n \n \n \n \n \"Trading in the Holiday period so far has been in line with our expectations and our guidance for FY23 remains unchanged. We look ahead with confidence as we continue to deliver on our Long Range Plan objectives of maintaining our leadership position in the UK, becoming the clear leader in the US, and capitalising on the growth potential in Europe.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n(£million)\n \n \n \n \n \n \n 26 weeks ended 30 October 2022\n \n \n \n \n \n \n 26 weeks ended 31 October 2021\n \n \n \n \n \n \n YoY change\n \n \n \n \n Reported rates\n \n \n \n \n \n \n YoY change\n \n \n \n \n Constant currency\n \n \n 1\n \n \n \n \n \n \n \n \n Group revenue\n \n \n \n \n \n \n 765\n \n \n \n \n \n \n 586\n \n \n \n \n \n \n 31%\n \n \n \n \n \n \n 23%\n \n \n \n \n \n \n \n UK & Europe\n \n \n \n \n 454\n \n \n \n \n 419\n \...