Fund manager, Qiao Ma has tipped Hong Kong based global power tools and outdoor equipment company Techtronic Industries at the Sohn Hearts & Minds conference on Friday.
Portfolio manager of the Asian Equities Fund of Coopers Investments, Ma said Techtronics, which is listed on the Hong Kong stock exchange, has two well respected brands which largely sell into the US market – Ryobi for the home handy person and Milwaukee for professional trades people.
Founded in 1985 by German engineer Horst Pudwill whose son is now involved in running the company, Ma said the company’s shares, now trading at $HK170 could easily rise to $HK215 in 12 months’ time.
The company has a market capitalisation of $US39bn with annual revenues of $US9.8bn.
Ms Ma said although Techtronics was an industrials company producing power tools it was “really a technology company at heart”, having moved to use state of the art lithium batteries for its equipment.
Ma says the company has been growing its sales by 13 per cent a year for the past 13 years and its profits by 26 per cent a year over the same time.
“That tells you one thing -- Techtronics is not growing sales by cutting prices,” she said.
“It is increasing its volume and creating premium end products and commanding a very health product margin.”
She said Coopers was “incredibly excited about its future.”
This article was originally posted by The Australian here.
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