Market Insight | TECHTRONIC IND Surges Over 3% on Expectations of North American Rate Cuts Boosting Tool Demand, Potential Surge in Domestic Home Repair and Maintenance Needs
TECHTRONIC IND is now up more than 3%, as of the time of publication, it is up 3.33% to HKD 108.5, with a turnover of HKD 180 million. On the news front, TECHTRONIC IND recently released its interim performance, with revenue of USD 7.312 billion, a year-on-year increase of 6.3%; net profit attributable to shareholders was USD 550 million, a year-on-year increase of 15.7%. Guojin Securities pointed out that considering the company's leading position in the power tool industry, the start of the North American interest rate cut cycle is expected to boost demand for tool terminals, coupled with the company's competitive advantages becoming more prominent, market share and profitability are expected to continue to improve. Huafu Securities also pointed out that a large number of middle-class families in the United States live in suburban villas, coupled with high labor costs in the United States, consumers have a greater demand for DIY home repairs, furniture making, and gardening. After the peak of new home sales in China, with the increase in house age and the rise in labor costs in China, it is expected that there will also be demand for house repairs, DIY, and other related activities in China, making companies in the power tool industry worth paying attention to in China as well
According to the Wise Finance app, Techtronic Industries (00669) is currently up more than 3%, with a 3.33% increase as of the time of publication, trading at HKD 108.5 with a turnover of HKD 180 million.
On the news front, Techtronic Industries recently released its interim results, with a revenue of USD 7.312 billion, a year-on-year increase of 6.3%; and a net profit attributable to shareholders of USD 550 million, a year-on-year increase of 15.7%. Guojin Securities pointed out that considering the company's leading position in the power tool industry, the start of the North American interest rate cut cycle is expected to boost demand for tool terminals, coupled with the company's competitive advantages becoming more prominent, market share and profitability are expected to continue to improve.
Huafu Securities also noted that a large number of middle-class families in the United States live in suburban villas, coupled with high labor costs in the United States, consumers have a strong demand for DIY home repairs, furniture making, and gardening. After the peak of new home sales in China, with the increase in house age and the rise in labor costs in China, it is expected that there will also be a demand for home repairs, DIY, and related activities in China. Therefore, companies in the power tool industry in China are also worth paying attention to