Luxury / news
Watches of Switzerland Group Posts 11% Revenue Growth for Full Year 2026
The retailer reported record revenue of £1.8 billion, up 11%, and a 76% jump in statutory profit before tax to £133 million for the year ended 3 May.
Watches of Switzerland Group delivered what it termed 'record revenue, strong profit, excellent cash generation' for its full fiscal year 2026, which ended on 3 May. The company announced the results on Tuesday.
Group revenue rose 11% to £1.8 billion, or 13% in constant currency. Adjusted EBIT increased 6% on a constant-currency basis to £155 million, while statutory profit before tax surged 76% to £133 million. Strong free cash flow enabled further reduction in net debt, according to the company.
CEO Brian Duffy said the performance came amid a complex backdrop, including tariff-driven price and margin changes in the US and ongoing consumer pressure in the UK. He credited the company's business model, brand relationships, and team strength for navigating these challenges.
The group invested in its showroom estate and digital capabilities, focusing on high-return opportunities. Looking ahead to FY27, the company plans to build on the momentum by enhancing the client experience through initiatives such as the Xenia programme and maintaining cost and capital discipline.