Latest news with #BrianDuffy
Fashion Network
15-05-2025
- Business
- Fashion Network
Watches of Switzerland hails growth comeback in latest year, US excels
Demand for its key luxury brands, particularly products on its Registration of Interest lists, 'remains strong, outstripping supply in both the US and UK markets'. The improved second-half performance saw group revenue rising 12% in H2 after a rise of only 4% in H1 at constant currency. Again, it saw a powerful performance in the US in the second half with an increase of 19% compared to 11% in the first half. As previously outlined, in Q1 it had increased showroom stock levels of key brands to enhance displays and client experience, particularly in the US. The company added that post-year-end, 'following a temporary period of consumer uncertainty in response to the initial tariff announcement, we have seen a return to normalised trading patterns in April. [But] we are cognisant that the US tariff situation is currently unresolved, making it more difficult to predict future US trading patterns'. Back with the last financial year it also said it saw a 'positive improving trend in the UK, to +6% in H2' and 'we continue to be encouraged by the performance of our pre-owned businesses in the UK and US'. Meanwhile Roberto Coin Inc 'has performed strongly' and 'full-year adjusted EBIT [is] expected to be in line with market expectations'. CEO Brian Duffy said: 'In H2 FY25 we returned to growth in both the UK and US. In the US, we experienced strong momentum. In the UK, we were pleased to see the external environment stabilise in line with our expectations.' An H2 highlight was the opening of the new flagship Rolex boutique on Old Bond Street, London, 'in which we were able to bring our retailing excellence and operational strength to bear. Trading since launch has exceeded our expectations'. The company will launch its upgraded US Watches of Switzerland e-commerce website in the current Q1 of FY26 with further sites launching for Mayors and Betteridge during the year and 'this will provide a significantly enhanced client experience'. It said the 'US luxury jewellery market is the largest in the world and growing strongly. We will continue to build on the momentum we have seen in Roberto Coin Inc, with several exciting growth initiatives, including the launch of a major marketing campaign, secured locations for three monobrand boutiques and our e-commerce website upgrade'. Duffy added: 'As we look ahead, we remain confident in the strength of our business model, our strong pipeline of showroom openings and the resilience of the luxury watch category where demand for key brands continues to outstrip supply.'
Fashion Network
15-05-2025
- Business
- Fashion Network
Watches of Switzerland hails growth comeback in latest year, US excels
Watches of Switzerland Group delivered a 52-week trading update on Thursday and said its performance was 'in line with market expectations' plus it made 'strong strategic and operational progress with significant performance improvement in H2'. The company was formerly a perennial outperformer but had seen its seemingly unstoppable growth stalling in recent periods so any improvement is good news. Full-year group revenue was up 8% to £1,652 million, in constant currency and up 7% reported, in line with market expectations. UK & Europe revenue rose 2% but US revenue powered ahead by 16% in constant currency and 14% reported. Demand for its key luxury brands, particularly products on its Registration of Interest lists, 'remains strong, outstripping supply in both the US and UK markets'. The improved second-half performance saw group revenue rising 12% in H2 after a rise of only 4% in H1 at constant currency. Again, it saw a powerful performance in the US in the second half with an increase of 19% compared to 11% in the first half. As previously outlined, in Q1 it had increased showroom stock levels of key brands to enhance displays and client experience, particularly in the US. The company added that post-year-end, 'following a temporary period of consumer uncertainty in response to the initial tariff announcement, we have seen a return to normalised trading patterns in April. [But] we are cognisant that the US tariff situation is currently unresolved, making it more difficult to predict future US trading patterns'. Back with the last financial year it also said it saw a 'positive improving trend in the UK, to +6% in H2' and 'we continue to be encouraged by the performance of our pre-owned businesses in the UK and US'. Meanwhile Roberto Coin Inc 'has performed strongly' and 'full-year adjusted EBIT [is] expected to be in line with market expectations'. CEO Brian Duffy said: 'In H2 FY25 we returned to growth in both the UK and US. In the US, we experienced strong momentum. In the UK, we were pleased to see the external environment stabilise in line with our expectations.' An H2 highlight was the opening of the new flagship Rolex boutique on Old Bond Street, London, 'in which we were able to bring our retailing excellence and operational strength to bear. Trading since launch has exceeded our expectations'. The company will launch its upgraded US Watches of Switzerland e-commerce website in the current Q1 of FY26 with further sites launching for Mayors and Betteridge during the year and 'this will provide a significantly enhanced client experience'. It said the 'US luxury jewellery market is the largest in the world and growing strongly. We will continue to build on the momentum we have seen in Roberto Coin Inc, with several exciting growth initiatives, including the launch of a major marketing campaign, secured locations for three monobrand boutiques and our e-commerce website upgrade'. Duffy added: 'As we look ahead, we remain confident in the strength of our business model, our strong pipeline of showroom openings and the resilience of the luxury watch category where demand for key brands continues to outstrip supply.'
Fashion Network
15-05-2025
- Business
- Fashion Network
Watches of Switzerland hails growth comeback in latest year, US excels
Watches of Switzerland Group delivered a 52-week trading update on Thursday and said its performance was 'in line with market expectations' plus it made 'strong strategic and operational progress with significant performance improvement in H2'. The company was formerly a perennial outperformer but had seen its seemingly unstoppable growth stalling in recent periods so any improvement is good news. Full-year group revenue was up 8% to £1,652 million, in constant currency and up 7% reported, in line with market expectations. UK & Europe revenue rose 2% but US revenue powered ahead by 16% in constant currency and 14% reported. Demand for its key luxury brands, particularly products on its Registration of Interest lists, 'remains strong, outstripping supply in both the US and UK markets'. The improved second-half performance saw group revenue rising 12% in H2 after a rise of only 4% in H1 at constant currency. Again, it saw a powerful performance in the US in the second half with an increase of 19% compared to 11% in the first half. As previously outlined, in Q1 it had increased showroom stock levels of key brands to enhance displays and client experience, particularly in the US. The company added that post-year-end, 'following a temporary period of consumer uncertainty in response to the initial tariff announcement, we have seen a return to normalised trading patterns in April. [But] we are cognisant that the US tariff situation is currently unresolved, making it more difficult to predict future US trading patterns'. Back with the last financial year it also said it saw a 'positive improving trend in the UK, to +6% in H2' and 'we continue to be encouraged by the performance of our pre-owned businesses in the UK and US'. Meanwhile Roberto Coin Inc 'has performed strongly' and 'full-year adjusted EBIT [is] expected to be in line with market expectations'. CEO Brian Duffy said: 'In H2 FY25 we returned to growth in both the UK and US. In the US, we experienced strong momentum. In the UK, we were pleased to see the external environment stabilise in line with our expectations.' An H2 highlight was the opening of the new flagship Rolex boutique on Old Bond Street, London, 'in which we were able to bring our retailing excellence and operational strength to bear. Trading since launch has exceeded our expectations'. The company will launch its upgraded US Watches of Switzerland e-commerce website in the current Q1 of FY26 with further sites launching for Mayors and Betteridge during the year and 'this will provide a significantly enhanced client experience'. It said the 'US luxury jewellery market is the largest in the world and growing strongly. We will continue to build on the momentum we have seen in Roberto Coin Inc, with several exciting growth initiatives, including the launch of a major marketing campaign, secured locations for three monobrand boutiques and our e-commerce website upgrade'. Duffy added: 'As we look ahead, we remain confident in the strength of our business model, our strong pipeline of showroom openings and the resilience of the luxury watch category where demand for key brands continues to outstrip supply.'
The Herald Scotland
02-05-2025
- Business
- The Herald Scotland
Firm acquires company founded by well-known football figure
EQ Accountants said the acquisition of Edinburgh-based firm McDonald Gordon & Co is a "significant milestone" in its plan to triple turnover from £11 million to £30m over the next four years. It said the move strengthens EQ's presence in the Central Belt, a key area of focus in the firm's wider growth strategy. McDonald Gordon & Co was established in 1980 by Ian McDonald and the late Alan Gordon, described as "a well-known figure both in business and Scottish football, having played for Hibernian FC and Heart of Midlothian". In 1994, Raymond Paterson and Brian Duffy took the reins and have since built a successful business "with a strong reputation for client service and a proven track record" in supporting the growth of family-owned businesses in the SME sector. The 15-strong team's focus on supporting family-run and entrepreneurial businesses "fits seamlessly with EQ's mission to be Scotland's leading adviser to the SME sector". Dougy Agnew, Michelle Murray, Hazel Burt and Ged McLaughlin. (Image: Chris Scott) Craig Nicol, chief executive of EQ Accountants, said: 'Bringing McDonald Gordon & Co into EQ is a considered and strategic move that reflects our ongoing commitment to supporting Scotland's SME sector. Their long-standing reputation, loyal client base and shared values make them an ideal fit. This partnership enhances our reach across Central Scotland and ensures more business owners have access to the depth of expertise and resource EQ can offer.' Raymond Paterson, director at McDonald Gordon & Co, said: 'We took our time in choosing the right partner for the next chapter of our business. EQ stood out as a major player in the SME space, with values that align strongly with our own. Joining EQ gives us access to greater resources, specialist knowledge and the backing of a larger team, all of which will benefit our clients immensely.' Brian Duffy, director at McDonald Gordon & Co, said: 'This move isn't just about scale, it's about shared vision. EQ has the infrastructure and investment behind it to help us do even more for our clients, while preserving the close, personal service we've always delivered. We're excited about what's next.' The firm has strengthened its leadership team with the appointment of four new partners. Michelle Murray has been promoted from principal manager to partner, Ged McLaughlin joins EQ to focus on corporate finance, Dougy Agnew joins the team to specialise in corporate tax and Hazel Burt brings a dual focus on personal tax compliance and consultancy. Royal Bank of Scotland owner NatWest plays down Trump effect Royal Bank of Scotland owner NatWest Group has raised its profit guidance against a backdrop of uncertainty in the global economy, as it downplayed the impact of Trump tariffs on the lender. The bank, which is on the cusp of a return to full private ownership following its £45.5 billion bail-out during the financial crisis, signalled its expectation that profits for this year will come in at the upper end of guidance. That came as NatWest reported an operating profit before tax of £1.8 billion for the three months ended March 31, ahead of market expectations and up from £1.3bn last year. Chief executive Paul Thwaite declared it had been a 'strong start to the year, further demonstrating the positive momentum' being built up by the bank, which he said 'reinforces the confidence we have in our future performance'. AROUND THE GREENS ⛳ For the love of golf's hickory history This article appears as part of Kristy Dorsey's Around the Greens series Previously employed in the financial services sector, Stuart Fraser set up his artisan clubmaking business as part-time gig during the Covid lockdowns and gave up his day job in November 2023 after finding a permanent home for the operation. The Hickory Golf Workshop is now celebrating its first anniversary, having restored more than 500 clubs to their former glory. It is opening the 2025 season with a new hickory-era golf ball making experience, along with the addition of traditional plus fours and bunnets for visitors to try on. Mr Fraser describes the workshop experience as a combination of "Scottish history, traditional craftsmanship, and storytelling with the chance to handle and play with authentic hickory-shafted clubs".
Yahoo
04-03-2025
- Politics
- Yahoo
Exeter Region Cooperative School District candidate 2025: Brian Duffy
Name: Brian Duffy Town: Brentwood Education: JD, UNH Franklin Pierce School of Law; BA, University of Massachusetts Occupation: Vice president and general counsel, Northeast Delta Dental Political or civic experience highlights: I am in my fifth year on the Swasey School Board and completing my first year as chair of that board. During my five years, I have helped the school weather the pandemic as well as negotiated a fair contract for the Brentwood Teachers Association and negotiated the first-ever contract for the Brentwood Educational Support Professionals. During my tenure, the town also passed a bond to install solar panels on the roof of the school. What would be your top three priorities if you are elected?: The Swasey board operates with 4 goals. The first among these is to keep students at the center of the decision-making process; the second is to use data to shape policy and allocate resources to support student growth and learning; the third is to improve community engagement; and the fourth is to promote environmental stewardship and maintain fiscal responsibility. Our board has delivered on these goals: the Swasey Central School traditionally has the lowest per-pupil spending in the SAU while achieving exceptional results, including winning the 2023 New Hampshire Excellence in Education award. I look forward to bringing the same reason and pragmatism to the Coop board to ensure that the middle and high schools are adequately and appropriately funded and that educators have the necessary support and independence to deliver the best education possible to our children. What are your views about diversity, equity and inclusion in schools?: This is a loaded question, in large part because of the different ways people define "DEI." Providing a successful and effective education requires meeting students where they are and understanding where they are from. Students are coming from increasingly diverse backgrounds and appropriate DEI tools and strategies can help those students feel welcome and ready to learn and assist educators in delivering the best education possible. Equity means providing all students with an education, consistent with Article 83 of the New Hampshire Constitution. What else should voters know about you?: During my five years on the Swasey board, I have served on the SAU 16 Policy Committee, helping to shape school policies to ensure compliance with developing law, and have had the opportunity to work with members of the SAU 16 administration both in that capacity and on the Swasey Board. Therefore, I do bring a level of familiarity with incumbent board members and the SAU 16 administration. I hope that this experience can be an asset to the Coop board. This article originally appeared on Portsmouth Herald: Exeter Region Cooperative School District candidate 2025: Brian Duffy
