Swatch reports 17% jump in earnings for 2013

Swatch forecast “healthy” growth this year after reporting a 17-percent jump in earnings for 2013. Net profit surged 20 percent to $2.13 billion. Its results received a boost from a court-ordered compensation payment of $449 million from Tiffany & Co. resulting from a legal battle over a failed joint venture.  Operating income rose to $2.6 billion, easily beating analysts’ estimates. Swiss watch exports to China and Hong Kong fell 8.5 percent in the first 11 months of 2013.