Operator

Good morning, and welcome to the Watches of Switzerland Group's FY '26 Trading Update Webcast. We are joined this morning by Brian Duffy, Chief Executive Officer; and Anders Romberg, Chief Financial Officer. [Operator Instructions] I'll now hand over to the Watches of Switzerland Group management team, Brian Duffy. Please proceed.

Hugh Duffy
CEO & Director

Thank you, Dom, and good morning, everyone. Thanks for joining our full year fiscal '26 trading update call. A few introductory comments from me, and then we'll open the line for your questions for myself and Anders. Our group sales coming in at plus 13% in constant currency, plus 11% in reported, a total of GBP 1.83 billion, well ahead of the high point of our guidance and our market consensus. H2 growth trends were marginally better than H1 despite being up against tougher comps. We expect adjusted EBITDA of between GBP 152 million and GBP 155 million, also ahead of expectations. Our team delivered great results navigating through challenges, including changing import tariffs, gold price inflation, some other challenges. They really did a great job.

Sales in the U.S. of GBP 1.24 billion, were 24% up on prior year, and the U.S. is now more than 50% of group sales. This is a major milestone for our group achieved in just 8 years since we entered that market. The U.S. luxury watch market is the largest and fastest-growing major