Techtronic Industries Co Ltd announces fiscal results for first half of fiscal year 2022
In August 2022, Techtronic Industries Co Ltd. (TTI) released financial results for the first half of fiscal year 2022. The company delivered in many key growth objectives, with revenue growing 10.0% from 2021 to $7.0 billion. TTI also recorded strong growth in their gross profit margin to 39.1%, a notable 50 bps increase compared with a year ago, while their sales volume increased 12.1%. The company’s net profit improved to $578.0 million while their earnings per share rose to $31.59. These results signal a strong recovery following the COVID-19 pandemic.
Balance Sheet|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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