By  on August 18, 2008

Swiss watch company the Swatch Group Ltd. posted a 9.1 percent dip in profits for the first half, even though its watches and jewelry segment rallied with double-digit sales growth.

The Zurich-based company’s net income declined to 418 million Swiss francs, or $398.6 million at average exchange, during the first six months of the year. This compared with profits of 460 million Swiss francs, or $374.8 million, a year earlier. (Currency conversions were made at average exchange for the respective periods).

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