Stime Watch reaps benefits of development strategy

Stime Watch International Holdings recorded a 78 per cent rise in attributable profit to $38.1 million for 1996, with the effects of its development strategy starting to bring benefits.

The board recommended a final dividend of five cents a share, following a 51.8 per cent growth in earnings per share.

The company's result was struck on substantial increases in revenues in a number of key markets, particularly the United States and Europe.