GENEVA (AP) — Swiss watchmaker Swatch Group says it had record sales of 7.14 billion Swiss francs ($7.5 billion) last year.
The world’s biggest watch manufacturer said gross sales jumped almost 11 percent last year from 6.44 billion francs in 2010.
Swatch said in a statement Tuesday that the "catastrophic" strength of the Swiss currency reduced sales figures by 696 million francs.
Most of the company’s products are sold abroad in dollars and euros and therefore affected by exchange rate fluctuation.
The Biel-based company said it would face a "major challenge" in 2012 improving on already high sales.
Swatch shares were up 3 percent at 374.90 francs ($395.32) on the Zurich exchange.
