TIMEX Watches Limited India announced its financial results for the April – June 2007 quarter. Timex declared a topline growth of 30% for the quarter ending June 30, 2007 over the corresponding quarter in the previous year.
Consequently, Timex also posted a significant increase in its Net Profit for the quarter ending June 30, 2007 which marks an improvement of Rs. 3.7 crores compared to the corresponding quarter in the previous year.
Mr. Kapil Kapoor, Sr. Vice-President Asia and Managing Director, TIMEX Watches Ltd, said, “In line with our commitment to all our stakeholders, we are delighted to announce such a successful financial result for the quarter ending 30 June, 2007."
"The significant profits posted in this quarter can primarily be attributed to the success of our Time Factory retail initiative which supports our multibrand strategy. Additionally, the launch of several technologically differentiated high-end products has helped trade up consumers and further contributed to this growth."
"This result proves that the company is on a solid growth trajectory and we hope to carry forward this momentum through the year. The Time Factory has successfully established itself as a first of its kind, national retail chain for international watch brands."
"We plan to have a 100 Time Factory stores operational by the end of this fiscal year. And to give further impetus to our multi brand strategy, we are also considering bringing in some of our other international brands in the country later this year. ”
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