Leicester-headquartered Watches of Switzerland Group has said the business is “well placed” as it enters the holiday trading period, following a strong first half performance.
According to results for the 26 weeks to 26 October 2025 (H1 FY26), group revenue reached £845m, growing from £785m in the same period last year, as luxury watch demand remained strong.
Profit before tax, meanwhile, increased to £61m from £41m.
The firm also noted “good progress” with its showroom development programme, with eight projects completed in H1 FY26.
Brian Duffy, CEO, said: “We have delivered a strong first half, with Group revenue up 10% in constant currency, and good levels of profitability with Group Adjusted EBIT of £69 million, up 6%, along with strong free cash flow and return on capital employed.
“The US remains the key driver of our performance, with robust demand across brands and categories, and the region now makes up almost 60% of our profitability. One year in, we are even more excited about the scale of the opportunity for Roberto Coin and Hodinkee. In the UK, trading has been resilient in a challenging market, underpinned by the stability of the luxury watch segment and the strength of our consumer proposition, with particular success at our flagship boutiques.
“We welcome the recent reduction in US tariffs on Swiss imports, which is a positive development for the sector.
“The second half of the year has started well. Trading is in line with expectations, and we are well placed as we enter the Holiday trading period. Whilst we remain mindful of the external economic and geopolitical environment, we are confident in the strength of our business and our differentiated offering, and have reiterated our FY26 guidance.”
