Watches of Switzerland Group PLC (LSE:WOSG)
£ 3.988 -0.098 (-2.4%) Market Cap: 955.41 Mil Enterprise Value: 1.40 Bil PE Ratio: 9.37 PB Ratio: 1.89 GF Score: 78/100
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Q1 2023 Watches of Switzerland Group PLC Trading Statement Call Transcript

Aug 16, 2022 / 08:00AM GMT
Release Date Price: £8.98 (+1.58%)
Operator

Hello, and welcome to The Watches of Switzerland's Q1 FY '23 Trading Update. My name is Lauren, and I will be coordinating your call today. (Operator Instructions) I will now hand you over to your host, Brian Duffy, CEO to begin. Brian, please go ahead.

Hugh Brian Duffy
Watches of Switzerland Group plc - CEO & Director

Thank you, Lauren, and good morning, everyone. Thanks for joining our call. I'll add some background to trading performance that we've posted this morning and then Bill Floydd, our CFO, will comment on update which we'll then be happy to take your questions.

Q1 FY '23 saw a strong trading for our group throughout geographies, brand and product mix and sales channels, resulting in a 25% growth at constant foreign exchange and 31% in reported sales. Our U.S. business delivered 76% growth in constant FX and 58% if we exclude the acquisitions made in FY '22 and FY '23. Including the benefits of a strong dollar to pound foreign exchange rate, the U.S. was also bounded to a very significant 100%.

Managing this level of growth is

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