HK-listed Techtronic hits over 4-1/2-year peak on strong H1 results
BUZZ-HK-listed Techtronic hits over 4-1/2-year peak on strong H1 results ** Shares of Techtronic Industries 0669.HK jump 9% to HK$145, their highest level since January 2022
** Stock on course for the biggest one-day pct gain since May 7; top pct gainer in benchmark Hang Seng Index .HSI, which climbs 0.2%
** Power tools manufacturer said its first half net profit increased 17.5% y/y to $738 mln and revenue up 5.9% y/y to $8.3 bln with its brands MILWAUKEE and RYOBI delivering strong performance growing at a combined 8.2% underlying growth rate in local currency
** Company said gross margin expanded 258 basis points to a record 42.9% in the first half. It declares an interim dividend of 19.31 U.S. cents as compared to 16.09 U.S. cents in a year ago period
** Nomura, with "Buy" rating, raises TP to HK$173 from HK$163, saying margin-led beat in 1H26 with solid MILWAUKEE momentum likely underpin growth in 2H26F and beyond
** YTD, stock up 60.1%, Hang Seng Index .HSI up 0.7%
(Reporting by Donny Kwok)
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