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TTI Delivers Exceptional 2020 Results
USA - English
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Highlights
801
43.80
17.37
Exceptional 2
Full year organic sales growth of over US$2.1 billion, +28%
Gross margin improved for the 12
th consecutive year to 38.3%, up +52 basis points
Net profit growth of 30.2% to US$801 million
Hong Kong-based global power equipment and floor care company
Techtronic Industries Co. Ltd. ( TTI or the Group ) (stock code: 669, ADR symbol: TTNDY) announced its results for the financial year ended December 31, 2020. The Group reported sales of US$9.8 billion, an increase of 28.0%. Second half sales grew an exceptional 42.3%, outpacing the market.
Gross margin improved for the 12
th consecutive year, from 37.7% in 2019 to 38.3% in 2020. This gross margin improvement is a direct result of the launching of high margin new products, disciplined mix management, exceptional productivity gains and volume leverage.