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New Products Fuel TTI's Strong First Half Performance
Aug 25, 2008
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Techtronic Industries Co. Ltd. announced record sales in the first half of HK$13.1 billion, an increase of 10.1% over the same period of 2007. The company said the growth was achieved across all business segments. The Power Equipment business had sales growth of 11.6%, led primarily by penetration of new product categories from the Outdoor Products business and the expansion of cordless Lithium ion technology across the power tool brands. The consumer and professional power tools and accessories businesses both delivered mid-single digit growth in North America. The Floor Care business experienced sales growth of 6.8%, aided by the turnaround of Hoover and growth in Europe and the rest of the world.

Horst Pudwill, chairman of TTI, said, "We are benefiting from the rewards of our strategic repositioning plan, exciting new products, powerful brands, expanding geographic reach, exceptional people, and strengthening customer partnerships."

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