Techtronic Industries Delivers Strong 2024 First Half Results
HONG KONG, Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (‘TTI’ or the ‘Group’) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce the unaudited consolidated results of…
HONG KONG, Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. (‘TTI’ or the ‘Group’) (stock code: 669, OTCQX: TTNDY, TTNDF) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries for the six-month period ended June 30, 2024. TTI grew sales in the first half of 2024 to US$7.3 billion, up 6.3% in reported currency and 6.6% in local currency. MILWAUKEE delivered double-digit sales growth in local currency and RYOBI outperformed the market.
TTI delivered strong first half results, growing sales 6.3% to US$7.3 billion and net profit 15.7% to US$550 million.
Our Flagship MILWAUKEE business grew sales 11.2% in local currency, extending our leadership position as the #1 professional power tool brand worldwide.
Gross margin improved 67 bps to 39.9% in the first half of 2024.
We delivered record first half Free Cash Flow of US$508 million and improved gearing to 9.2%.
Mr. Steven Philip Richman was appoint
ed to the role of TTI Chief Executive Officer (CEO) on May 21, 2024.
Source: BERNAMA News Agency