(RTTNews) – Watches of Switzerland Group Plc (WOSGF, WOSG.L), a luxury watch and jewellery retailer, reported Tuesday significantly higher profit in fiscal 2026, benefited by revenue growth, while adjusted margin declined from last year. Further, the company said its current trading is positive, and maintained fiscal 2027 outlook.
In the full year, profit before tax surged 76 percent to 133.3 million pounds from last year’s 75.9 million pounds. Earnings per share grew to 42.6 pence from 22.7 pence a year ago.
Adjusted profit before tax was 143.4 million pounds, compared to 136.1 million pounds last year. Adjusted earnings per share were 45.2 pence, compared to 41.6 pence last year.
Adjusted EBIT grew 3 percent from last year to 154.8 million pounds, while adjusted EBIT margin dropped to 8.5 percent from 9.1 percent a year ago.
Adjusted EBITDA increased 5 percent yearover-year to 202.2 million pounds, while adjusted EBITDA margin declined to 11.1 percent from 11.6 percent last year.
Revenue grew 11 percent to 1.83 billion pounds from 1.65 billion pounds last year. Revenue growth was 13 percent in constant currency.
Regarding the current trading, the company said its trading in the first ten weeks of fiscal 2027 has been encouraging, with good US momentum continuing into the new year and encouraging signs of improvement in the UK market.
The company maintained its annual outlook, noting that it is confident of another year of strong revenue growth, alongside a return to Adjusted EBIT margin expansion.
For fiscal 2027, Watches of Switzerland continues to expect, on 52 week – organic pre-1FRS 16 basis, revenue growth at 5 percent to 10 percent at constant currency.
Adjusted EBIT margin is still projected between 40 and 80 bps expansion from fiscal 2026 on both pre-1FRS 16 and IFRS 16 basis.
Brian Duffy, Chief Executive Officer, said, “We see a substantial runway for long-term growth, in both revenue and profit. … With a leading position in the UK, a strengthening presence in the US, long-standing brand partnerships and a clear pipeline of opportunities, we are well placed for the next phase of profitable growth.”
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