Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

TTI Net Profit Up 22%
Aug 28, 2013
 Printable format
 Email this Article
 Search

Techtronic Industries Company (TTI), global producer of floor care appliances and power tools, reported record sales and profits in the second quarter of its current fiscal year, with gross margin up for a sixth consecutive period.

In the first half of the year, TTI's net profit attributable to shareholders was US$118 million, up 22.0% over the first half of 2012.

Group sales were up 10.1% in the first half, to $2,042 million.

TTI CEO Joseph Galli attributed the company's financial performance to a continuous flow of new product launches, category expansion, product mix, and a focus on operational efficiency.

The gross margin improvement came about due to new products, investment in developing the company's lithium strategy, category expansion, product mix, and manufacturing and supply chain efficiencies.

The company had strong sales growth in core businesses across all key regions, including North America, Europe, and Australia.

"Our powerful new product development machine has put TTI in a position to continue growing and driving profitability to new levels," said Chairman Horst Pudwill.

TTI floor care appliances brands include Hoover, Dirt Devil, and Vax.

Power tools and outdoor products brands include Milwaukee, AEG, Ryobi, and Homelite.

The company recently acquired floor-care maker Oreck Corp., based in Nashville, TN.

Back to Daily News

 

Daily News

...........................................................

Jul 21, 2014: Briggs and Stratton Plans to Scale Back Snapper Brand and Close Georgia Plant

Jul 18, 2014: Whirlpool to Pay $1 Billion for Indesit

Jul 18, 2014: BSH North America CEO Traub Leaving, Michael Steinle Taking Over

Jul 18, 2014: Report: Indians Spent $150 Million for Water Purifiers

Jul 18, 2014: MAPI Business Outlook: Manufacturing Continues to Ride the Growth Wave

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows