By  on January 30, 2020

PARIS — Swatch Group said sales fell 2.7 percent in 2019 as ongoing protests weakened business in Hong Kong, the world’s number-one market for Swiss watches, with no improvement in sight for this year.

The Biel, Switzerland-based group reported net profit fell 13.7 percent and its operating result was down 11.4 percent, below market expectations. In Hong Kong, the drop in sales in the second half of 2019 was approximately 200 million Swiss francs, or $206 million at current exchange rates, Swatch Group said on Thursday.

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