Techtronic Industries (HK:0669) has released an update.
Techtronic Industries Company Limited (TTI) has reported a strong financial performance for the first half of 2024, with a 6.3% increase in sales to US$7.3 billion and a significant 15.7% rise in net profit to US$550 million. The company’s flagship MILWAUKEE brand led with an 11.2% growth in sales, contributing to an improved gross margin of 39.9%, while also delivering a record Free Cash Flow of US$508 million. Alongside the financial growth, TTI announced Steven Philip Richman as the new CEO and declared an increased interim dividend of approximately US13.90 cents per share.
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