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SWATCH CATCHES LUXURY MARKET BOOM
STRONG demand for expensive watches in China helped Swatch Group clock up an 18 per cent rise in 2011 profits and build some sales momentum for the current year. Net profit at the Swiss-based group, known better for its colourful plastic watches than for ownership of high-end brands such as Omega and Breguet, rose 18.1 per cent, in line with expectations, to 1.276bn Swiss francs (£868.7m) in 2011.