GROSS MARGIN EXPANDED TO 39.9%, NET PROFIT INCREASED TO US$550 MILLION HONG KONG, Aug. 6, 2024 /PRNewswire/ -- Global leader in cordless Professional Tools, DIY Tools, and Outdoor Power Equipment, Techtronic Industries Co. Ltd. ("TTI" or the "Group") ((stock code: 669, OTCQX:TTNDY, TTNDF)) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries for the six-month period ended June 30, 2024. TTI grew sales in the first half of 2024 to US$7.3 billion, up 6.3% in reported currency and 6.6% in local currency. MILWAUKEE delivered double-digit sales growth in local currency and RYOBI outperformed the market. TTI delivered strong first half results, growing sales 6.3% to US$7.3 billion and net profit 15.7% to US$550 million. Our Flagship MILWAUKEE business grew sales 11.2% in local currency, extending our leadership position as the #1 professional power tool brand worldwide. Gross margin improved 67 bps to 39.9% in the first half of 2024. We delivered record first half Free Cash Flow of US$508 million and improved gearing to 9.2%. Mr. Steven Philip Richman was appointed to the role of TTI Chief Executive Officer (CEO) on May 21, 2024. Financial Performance Highlights for 2024 First Half 2024 2023 US$'million US$' million   Changes Revenue 7,312 6,879 +6.3 % Gross profit margin 39.9 % 39.3 % +67 bps