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Biel/Bienne, Switzerland--Operating profit and net income both increased by double-digit percentages for Swatch Group in 2011, the company reported Tuesday.

Operating profit was up 12 percent to $1.77 billion, while net income rose 18 percent to $1.40 billion.

Operating margins increased slightly, from 23.5 percent in 2010 to 23.9 percent in 2011, despite the strong Swiss franc and the high cost of diamonds and gold.

The financials released on Tuesday followed the group’s abbreviated sales announcement made last month, in which the company reported that sales were up 22 percent in 2011 to the record level of $7.48 billion.

Swatch Group attributed the 12 percent increase in operating profit to improved efficiency and strong cost controls. The company also noted that it was able to achieve increased profit despite a strong Swiss franc and rising gold and diamond prices.

During 2011, Swatch Group used $636.1 million for investing, including the addition of 2,800 jobs. The company’s worldwide workforce now stands at 28,000.

Looking ahead to 2012, Swatch Group said it expects the growth to continue despite increasingly difficult year-over-year comps. The company will continue to make “targeted investments” in its worldwide distribution network and grow its production capacities in Switzerland.