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Nigel TAYLOR Published
March 10,长沙USDT优惠活动 2025
Watches of Switzerland Group has introduced a £25 million share buyback programme, sending its shares up 7% in early trading on Monday (10 March).
The luxury watch retailer said it now has excess funds to return to shareholders as its balance sheet remains strong following a refinancing in December that increased liquidity by £50 million.
The move won’t restrict investment in retail expansion with the group about to open a new Rolex flagship showroom on London’s Bond Street on Thursday (14 March).
It said of the share buyback programme: “The group has a clear and disciplined approach to capital allocation - prioritising investment for growth through showroom elevation, new projects and acquisitions, before returning to shareholders any surplus capital above and beyond those requirements, as appropriate”.
It added: “We continue to be active on a number of business development opportunities, both organic and inorganic, and will prioritise these investments, but in addition we now have surplus capital that can be returned to shareholders in line with the framework”.
Buybacks reduce the number of shares in circulation, which gives all remaining shareholders ownership of a greater percentage of the company. This often leads to an increase in a company’s share price, hence the early rise this morning.