Techtronic Industries' interim profit grew 14 pc to US$628 m

Techtronic Industries (0669) said its net profit increased by more than 14 percent year-on-year to US$628 million (HK$4.90 billion) in the first six months. 

The Hong Kong-based power tools maker declared an interim dividend of 16.09 US cents, up 15.7 percent.

TTI said it delivered sales of US$7.83 billion in the period, rising 7.13 percent from the same period last year.

The flagship MILWAUKEE posted sales growth of 11.9 percent in local currency, and RYOBI, consumer battery-powered tool and outdoor brand globally, recorded a 8.7 increase in sales in local currency.

TTI reported US$468 million in free cash flow during the first half, ending the period in a net cash position.

STAFF REPORTER