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TTI Reports Record Half-Year Sales and Profits
Aug 21, 2012
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Floor care appliances and power tools producer Techtronic Industries Co. Ltd. (TTI) had record sales of US$1,855 million for the six-month period ending June 30, 2012, up 4.0% over the first half of 2011.

TTI also reported record net profit of $96 million, up 20.1% from the first half of 2011. Total organic group sales were up 5.2% before foreign currency impact.

TTI saw strong growth in its Power Equipment business, with $1.4 billion in sales for 1H 2012, up 10.1% over 1H 2011. TTI cited double-digit gains across all markets in tools, including Milwaukee brand industrial Fuel and RedLithium cordless tools. Growth was recorded in consumer tools driven by the Ryobi 18-volt One+ System and new Ryobi cordless outdoor products.

TTI's floor care products include Hoover, Dirt Devil, and Vax brands.

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