Hong Kong based Techtronic Industries Co. Ltd., maker of floor care appliances and power tools, reported record profits in 2011. Profits were up 58.9% to a record $151 million. Sales grew 8.4% over 2010 to a record US$3.7 billion. Gross profit margin increased to 32.6%, from 32.2% in 2010 and 31.3% in 2009 on productivity gains in operations and supply chain. The improvements drove 2011 earnings before interest and tax up by 30.6% to $218 million.
TTI floor care appliances are sold worldwide under the brand names Hoover, Dirt Devil, and Vax. Power tools are sold under the brand names Milwaukee, AEG, Ryobi. Outdoor products are sold under brand names Homelite and Ryobi.
Back to Breaking News