Swatch Group, the world’s largest watchmaker, expects demand to pick up in the second half as it posted a forecast-beating first-half net profit yesterday.

The group, best known for its colourful Swatch watches, said net profit fell to 301 million Swiss francs (€187 million), as a recovery in financial markets in the second quarter boosted its investments.

The sales development of the last few months and current order entries were showing signs of recovery, and second-half sales

should be in line with the second half of 2008, with some brands seen posting a rise in sales, the Swiss company said. – (Reuters)