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Swatch predicts strong growth in 2012

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10:22 CET+01:00

The world's biggest watch group Swatch on Thursday forecast 2012 sales growth of between five and ten percent.

Nick Hayek, director of the Swiss group which also owns the Omega and Tissot brands, said January and February had seen double-digit growth but he did not expect this to be sustained throughout the year.

In China, which accounts for 39 percent of Swatch sales, Hayek said Swatch had recorded a "very slight slowdown in growth" for the first two months.

The Chinese are still choosing to spend their cash on Swiss-made watches, he said, while noting a trend towards middle-range brands and away from luxury ones.

The group announced earlier this month an 18.1 percent jump in net profit to 1.3 billion Swiss francs ($1.4 billion) for last year.

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