Swatch expects dynamic growth in 2014

London

SWATCH Group, the biggest Swiss watchmaker, forecast a positive year after 2013 revenue rose 8.3 per cent, sending the shares up the most in eight months.

Swatch "expects good results for 2013 at operating profit and net income level", the company said yesterday. "Based on the strong start by all brands in the first few days of January, dynamic growth is expected for the entire year 2014."

The predictions spurred optimism that sales may start to rebound after a Chinese crackdown on extravagant gifts contributed to Swatch's slowest sales growth in four years. The Swiss watch industry's growth rate has sputtered as China, which buys more tha…