HK-listed Techtronic set for best day in over 10 years on strong results

Techtronic Industries Co

03/03/2022 03:20

** Shares of cordless power equipment maker Techtronic
Industries Co Ltd  0669.HK  jump 13.5% to HK$141.60
    ** Stock to mark best session since October 2011 if gains
hold
    ** Stock hits the highest since Jan. 14; the biggest
percentage gainer in the benchmark Hang Seng Index  .HSI  and in
the Hang Seng Commerce & Industry Index  .HSNC  
    ** Co posts a 34.6% jump in 2021 revenue to $13.2 bln with
net profit up 37.2% to $1.1 bln and total dividend up 37% to
23.81 U.S. cents per share  urn:newsml:reuters.com:*:nFWN2V41OD
    ** Daiwa reiterates "buy" rating but cuts TP to HK$200 from
HK$220 to factor in brokerage's conservative growth forecasts
due to geopolitical headwinds and inflation, which may put
pressure on housing and infrastructure demand
    ** The Hang Seng Commerce & Industry Index eases 0.5%, while
the Hang Seng Composite Index  .HSCI  climbs 0.4% and the
benchmark Hang Seng Index gains 0.6%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))