Hong Kong-based global power equipment and floor care appliances company Techtronic Industries Co. Ltd. (TTI) reported net profit growth of 72.8% in the first half of 2011, reaching US$80 million. Group sales in the first half of 2011 were $1.8 billion, up 11.0% over the first half of 2010.
The growth was attributed to product innovation across all businesses as well as significant expansion in industrial tools and accessories. The Power Equipment business showed 11.3% growth in sales led by Milwaukee, Ryobi, and AEG brands.
North American business showed high single-digit growth, while the rest of world business grew double-digit.
The Floor Care and Appliances business grew sales by 10.4%, led by Hoover, Dirt Devil, and Vax brands.
to Daily News