TECHTRONIC IND Soars 7.9% as Interim NP Hikes 17.5% w/ Higher DPS, Brokers' Blessings
I'm LongbridgeAI, I can summarize articles.Techtronic Industriesshares surged nearly 8% following a 17.5% YoY rise in H1 net profit to USD738 million and an increased interim dividend. Revenue grew 5.9% to USD8.29 billion, with gross margins hitting a record 42.9%. Strong performance from MILWAUKEE and RYOBI brands drove organic growth. Consequently, brokers Citi and Nomura raised their target prices while maintaining Buy ratings.
TECHTRONIC IND (00669.HK) +10.900 (+8.195%) Short selling $177.92M; Ratio 15.986% opened 0.53% higher today and once peaked at HKD144.8. It is now trading at HKD143.5, up 7.89%, with turnover of 3.2214 million shares involving HKD450 million.
For the first half ended end-Jun 2026, the company recorded revenue of USD8.292 billion, up 5.9% YoY. Net profit rose 17.5% YoY to USD738 million, with EPS of US40.5 cents. An interim dividend of HKD1.5 was declared, compared with HKD1.25 in the same period last year.
During the period, gross profit margin reached a record 42.9%, compared with 40.3% in the same period last year. Capital expenditure amounted to USD92 million, broadly flat YoY.
MILWAUKEE and RYOBI both delivered strong performances in 1H26, with combined organic growth of 8.2% in local-currency terms. Non-core businesses accounted for 6.6% of global revenue and declined 19.4% in local-currency terms, mainly due to the exit from the HART business last year, market weakness, and continued rationalization of sales in other consumer businesses.
Multiple brokers raised their target prices for the company after the results announcement. Citi lifted its TP from HKD150 to HKD168, while Nomura raised its TP from HKD163 to HKD173. Both maintained Buy ratings. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-04 16:25.)