Hong Kong-based Techtronic Industries Co. Ltd (TTNDY.PK: News ) Thursday reported a surge in profit for the first-half of 2011, on double-digit revenue growth.
Profit to the company for the first-half increased to $80.0 million or 5.00 cents per American Depositary Receipt, or ADR, from $46.0 million or 2.92 per ADR last year.
Sales for the first-half increased 11.0 percent to $1.784 billion from $1.607 billion last year.
CEO Joseph Galli said, “New products are the engine of TTI’s growth. We are excited about our range of new cordless lithium ion products and accessories. We are driving TTI’s expansion into both core and underrepresented markets. Our value engineering, lean manufacturing, and supply chain efficiency programmes are delivering productivity and margin improvements.”
Category: Hong Kong