Swatch's 2009 profit beats forecasts

Swatch Group, the world's largest watch maker by sales, posted a forecast-beating full-year profit yesterday and maintained a positive outlook for 2010, easing worries a flagging economic recovery may hit demand.

Net profit fell nine per cent to SF763 million (Dh2.6 billion), ahead of the average forecast of SF698 million given in a Reuters poll of analysts.

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