Business
Watches of Switzerland Q4 FY22 Trading
Watches of Switzerland Q4 FY22 Trading.
About this update from Watches Of Switzerland Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n Watches of Switzerland Group PLC\n \n \n \n \n Q4 FY22 Trading\n \n \n \n for the 13 weeks (Q4) and 52 weeks (FY) to 1 May 2022\n \n \n \n \n \n \n Stellar end to FY22 with strong momentum into FY23\n \n \n \n \n Revenue growth of 48%\n \n \n [1]\n \n \n in Q4, 40%1 for the full year with improved profitability\n \n \n \n \n \n \n \n \n \n \n \n Watches of Switzerland Group PLC (\"the Group\") today provides the following unaudited update relating to the 13 and 52 weeks ending 1 May 2022.\n \n \n \n \n \n \n Brian Duffy, Chief Executive Officer, said:\n \n \n \n \"\n We are pleased to report a strong quarter of 48%1 growth to finish what was an outstanding year for the Group. We have delivered another record year of revenue and profitability as we continue to progress our Long Range Plan. Our teams have again excelled and done great work.\"\n \n \n \n \n \n \"We delivered an outstanding performance in both the US and UK, supported by broad-based sales growth across our portfolio of world leading partner brands and driven by domestic clientele. We were also delighted to announce our forthcoming entry into the European market, which will provide our Group with further growth opportunities and geographic diversification.\"\n \n \n \n \n \n \"The luxury watch and jewellery markets are dynamic and our Group investment-led model continues to gain positive momentum. Consumer desire for \"Super High Demand\" brands (Rolex, Patek Philippe and Audemars Piguet) continues to exceed supply and other luxury watch brands are enjoying exceptionally strong demand and sales. Luxury jewellery demand is also very positive.\"\n \n \n \n \n \n \"Looking ahead, our FY23 guidance reflects our confidence in our markets and business model. We enter FY23 with visibility of product supply for Super High Demand brands for the remainder of the 2022 calendar year and an exciting programme of new products and marketing from other brands. We have a strong pipeline of showroom projects, and we expect an ongoing recovery in footfall and airport traffic. Our focus will be on continuing to capitalise on the momentum we have built to deliver value for all our stakeholders.\"\n \n \n \n \n \n \n Q4 FY22 Highlights\n \n \n \n ·\n \n Group revenue £30...