Brian Duffy, Chief Executive Officer, said:
“FY26 was a year of strong execution against a complex operating backdrop. Revenue grew 11% to £1.8 billion, up 13% in constant currency, and we delivered a clear step-up in financial performance, with Adjusted EBIT of £155 million, up 6% on a constant currency basis, and statutory profit before tax up 76% to £133 million. Strong free cash flow generation supported a further reduction in net debt, reflecting the discipline and momentum in the business.
“This was all achieved while navigating tariff-driven price and margin changes in the US and continued pressure on consumers in the UK. This performance is testament to the agility of our business model, our strong relationships with brands and the strength of our teams, who have executed well. We have prioritised our highest-return opportunities, investing in our showroom estate and digital capabilities, driving productivity and broadening our client proposition. The Deutsch & Deutsch integration is progressing well, Certified Pre-Owned continues to gain traction, Roberto Coin is building momentum, and our ecommerce investment is extending our reach with clients.
“Our focus in FY27 is to build on this performance, continuing to elevate the client experience through our Xenia programme, drawing on the success of Rolex Old Bond Street, whilst maintaining cost and capital discipline and investing where we see the greatest long-term returns. We have made an encouraging start to the year which underpins our confidence in delivering another year of strong revenue growth.
“We see a substantial runway for long-term growth, in both revenue and profit. The US represents a major opportunity, with considerable potential for further growth and market share gains. In our home market, the UK, the trading backdrop is showing encouraging signs of improvement, and I would like to thank our teams across the US and UK for the outstanding service they continue to provide to clients.
“With a leading position in the UK, a strengthening presence in the US, long-standing brand partnerships and a clear pipeline of opportunities, we are well placed for the next phase of profitable growth.”
For further information on our FY26 Results, please visit our website:
Results centre - Investors - The Watches of Switzerland Group
