TECHTRONIC INDUSTRIES DELIVERS EXCEPTIONAL 2021 RESULTS WITH OUTSTANDING REVENUE AND PROFIT GROWTH
The gross margin improvement is a direct result of the launching of high margin new products, disciplined mix management, exceptional productivity gains, and volume leverage.
- The gross margin improvement is a direct result of the launching of high margin new products, disciplined mix management, exceptional productivity gains, and volume leverage.
- Net Profit rose 37.2% to US$1.1 billion, with earnings per share increasing 37.1% over 2020 to US60.04 cents.
- With the investments in inventory to support sales growth and high service levels, the Group maintained a disciplined working capital ratio at 20.9% of sales.
- Every one of the Group's business units in all geographic regions delivered exceptional sales growth in 2021.