HONG KONG, Aug 12 (Bernama-BUSINESS WIRE) — Hong Kong-based global power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, ADR symbol: TTNDY) announced its results for the six months ended June 30, 2021. The Group delivered extraordinary results for the first half of 2021, growing sales by 52.0% to US$6.4 billion. Gross margin improved for the 13th consecutive first half to 38.6%, and the growth in EBIT, net profit, and earnings per share all outpaced sales growth. EBIT increased 57.4% to US$572 million, net profit rose 57.9% to US$524 million, and earnings per share increased 57.8% to approximately US28.62 cents per share.
- Exceptional sales growth of 52.0%
- Sales growth of 71.5% over two years, compared to the first half of 2019
- Strong sales growth across all businesses and geographies
- Gross margin improved for the 13th consecutive first half to 38.6%, up 58 basis points
- Net profit growth of 57.9% to US$524 million