By  on July 17, 2019

PARIS — Swatch Group said net profit fell 11.3 percent in the first half and sales were down 4.4 percent, as efforts to curb gray market dealers around the world weighed on its performance.

Analysts said sales performance fell a bit below expectations, while profit figures were slightly higher than expected. Swatch shares rose 5.7 percent to trade at around 305.90 Swiss francs at 12:30 p.m. CET.

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