City briefs: Watches of Switzerland; Experian

Leicester-based Watches of Switzerland has reported revenue growth of 48% for its fourth quarter to May 1 – in what it is calling a “stellar” end to its financial year.

Group revenue at the luxury watch retailer soared to £304m, with US turnover up by 50% and UK sales rising by 47%.

Brian Duffy, chief executive officer, said: “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.”

“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.”

Experian says that progress in its UK and Ireland markets has been “very good” as it reveals its full year results for March 31.

Turnover reached almost £680m across the territories during the year, with the Nottingham-based information services company saying it is now turning its attention to positioning the business for “sustained long-term growth”.

Brian Cassin, chief executive officer, said: “For the year ahead, we expect organic revenue growth in the range of 7-9%, with modest margin improvement at constant exchange rates, supported by continuing investment behind the execution of our strategy. While we are closely monitoring the global macroeconomic trends, we are confident in our strong track record of robust and resilient performance.”

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