Strong Gains from all Businesses Fueled by New Products

- Record sales for the period with 11.0% growth

- Record profit for the period with 72.8% growth

- Continuous gross margin improvement
HONG KONG, Aug. 18, 2011 /PRNewswire-Asia-FirstCall/ -- Hong Kong-based global power equipment and floor care company, Techtronic Industries Co. Ltd. ("TTI" / The Group) (stock code: 669, ADR symbol: TTNDY) announced net profit growth of 72.8%, reaching a record US$80 million for the period. The Group's sales in the first half of 2011 totaled US$1.8 billion, an increase of 11.0% over the same period in 2010.
The growth was achieved through product innovation across all of our businesses, and significant expansion in industrial tools and accessories. The Power Equipment business delivered a robust 11.3% growth in sales led by our MILWAUKEE®, RYOBI®, and AEG® brands. Our North American business achieved high single-digit growth, while the rest of world business grew double-digit. The Floor Care and Appliances business grew sales by 10.4%, led by the continuation of product innovation under the HOOVER®, DIRT DEVIL® and VAX® brands.
Mr. Horst Pudwill, Chairman of TTI said, "I am pleased with our results. TTI continues to demonstrate its strengths in powerful brands and innovative products to capture market share and capitalize on growth opportunities. We enter the second half with strong momentum across our businesses and are firmly positioned to build on the positive results of the first half."
"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 programs are delivering productivity and margin improvements," said Mr. Joseph Galli, CEO of TTI.
 

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