Herald Holdings - which has been manufacturing Spice Girls watches since August last year - is expecting strong sales following the conclusion of a tour of the United States by the popular all-girl band. In the first few months after the watches were launched, several hundred thousand were sold, chairman George Bloch said. Herald has received a licence from French fashion magazine empire Elle to produce watches and sell them exclusively in Europe. The company has net cash of about $123 million. 'We have a good basket of different currencies,' Mr Bloch said. The company is not seeking any new investments at this stage. 'We believe we'll be seeing a lot of opportunities in Europe, and we'll be needing cash, so there is no rush at this moment,' he said. 'During the first half of the financial year, we had a difficult time but in the second half we expect to see a much fuller book.' Mr Bloch said the company was expecting to see growth in sales from its computer division by the end of the year. He said some new higher-end products, such as half-inch Metal InGap heads, had completed the necessary testing procedure, and the company 'should see results by the end of the year'.