Just over a year ago, I did a deep dive into Techtronic Industries Co. Ltd (“TTI”) (HKG:0669). The maker of power tools and accessories saw a resurgence in demand for its Do-It-Yourself (DIY) tools and outdoor products, as consumers were stuck at home due to the raging Covid-19 pandemic.
Fast forward to today, TTI has announced that 2020 was as an outstanding year with exceptional revenue and profit growth. Here are 6 interesting facts about the group’s latest earnings that investors should know about.
1. Record sales and net profit
TTI reported sales of US$9.8 billion in 2020, representing a full-year organic sales growth of over US$2.1 billion or 28.0% from the previous financial year. In fact, second-half sales grew an exceptional 42.3%, outpacing the market.
Meanwhile, net profit grew 30.2% from US$615 million in 2019 to US$801 million in 2020.
The group believes that increased strategic investment in new product,...