{"id":32,"date":"2011-03-24T08:21:10","date_gmt":"2011-03-24T08:21:10","guid":{"rendered":"http:\/\/tti.sedgwick-richardson.net\/?page_id=10"},"modified":"2011-03-24T08:21:10","modified_gmt":"2011-03-24T08:21:10","slug":"mda","status":"publish","type":"page","link":"https:\/\/ir2013.www.ttigroup.com\/mda\/","title":{"rendered":"MD&amp;A"},"content":{"rendered":"<div class=\"innerPageCenterDiv\">\n<div class=\"threeQuarterWidthContainer\">\n<div class=\"headlineTitle\">MD&amp;A<\/div>\n<div class=\"colorQuote\">TTI delivered record sales, profit and gross margin for the period. This exceptional performance was driven by a continuous flow of innovative new product introductions, category expansion, product mix and a relentless focus on operational efficiency.<\/div>\n<ul class=\"blueArrowList\">\n<li>Record sales and profit<\/li>\n<li>Gross margin improvement<\/li>\n<li>Strong balance sheet<\/li>\n<\/ul>\n<\/div>\n<div class=\"operationalChartinnerDiv\">\n<div class=\"threeQuarterWidthContainer\">\n<div class=\"paragraphTitle\">Record Sales and Profit<\/div>\n<p>In the first half of 2013, the Group\u2019s net profit attributable to shareholders reached USD118 million, a 22.0% increase over the first half of 2012. Basic earnings per share was US6.43 cents, 13.0% higher than the same period last year. Group sales rose by 10.1% over the six months to USD2.0 billion. Strong sales growth in the Group\u2019s core businesses was achieved across all key regions including North America, Europe, Australia\/New Zealand. We are particularly pleased with the Group\u2019s performance in Europe where we achieved high <span class=\"nowrap\">single-digit<\/span> growth in a soft market.<\/p>\n<p>Our balance sheet remains strong with solid improvements in gearing and working capital as a percentage of sales when compared to the same period in 2012.<\/p>\n<div class=\"paragraphTitle\">Margin Improvements<\/div>\n<p>Gross margin increased for the sixth consecutive period, to 34.0%. The improvement in gross margin was driven by innovative new products, further investment in developing our lithium strategy, category expansion, product mix, and manufacturing and supply chain efficiencies.<\/p>\n<p>We have continued to invest strategically in SG&amp;A, in new product development with expansion into  <span class=\"nowrap\">leading-edge<\/span> lithium technology and new categories. Additionally, we have invested aggressively in sales and marketing worldwide to drive growth in our key businesses. Investing in these strategic areas provides a platform to increase our market share and further improve the overall profitability of the Group.<\/p>\n<div class=\"paragraphTitle\">Strong Balance Sheet<\/div>\n<p>Gearing continued to improve to 26.2% from 37.4% when compared with the same period last year. We again demonstrated disciplined working capital management with the first half working capital as a percent of sales improving from 18.9% to 18.4% for the period.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MD&amp;A TTI delivered record sales, profit and gross margin for the period. This exceptional performance was driven by a continuous flow of innovative new product introductions, category expansion, product mix and a relentless focus on operational efficiency. Record sales and &hellip; <a href=\"https:\/\/ir2013.www.ttigroup.com\/mda\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"_tmp_report.php","meta":[],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/pages\/32"}],"collection":[{"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/comments?post=32"}],"version-history":[{"count":0,"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/pages\/32\/revisions"}],"wp:attachment":[{"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/media?parent=32"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/ir2013.www.ttigroup.com\/wp-json\/wp\/v2\/yst_prominent_words?post=32"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}