- Harris Technology Group (HT8) has notched up another quarterly sales record, spurred on by the online retailer’s entry into the gaming market
- The company’s unaudited figures show $10.4 million in sales were recorded in the third quarter, a 206 per cent increase year on year
- HT8’s total unaudited revenue figures exceeded $30 million at the end of March, representing a 300 per cent increase compared to the same time in 2020
- The online retailer is crediting continued growth in the home office and IT sectors for the strong sales, as well as their entry into the gaming market
- Harris Tech said products like custom-built PCs, gaming mice and keyboards, as well as high-end graphics cards, all proved popular over the quarter
- Shares in HT8 are trading up 11.5 per cent at 14.5 cents
Harris Technology Group (HT8) has notched up another quarterly sales record, spurred on by the online retailer’s entry into the gaming market.
The company’s unaudited figures show $10.4 million in sales were recorded over the third quarter, a 206 per cent increase on the year on year figures when it made only $3.4 million.
The technology stock also recorded total unaudited revenue of around $30 million at the end of March, representing a 300 per cent increase compared to the same time in 2020 when it notched up $7.48 million in revenue.
The online retailer is crediting the strong sales and revenue figures to continued growth in the home office and IT sectors, as well as its entry into the gaming market.
HT8 stated that products like custom-built PCs, gaming mice and keyboards, as well as high-end graphics cards, all proved popular over the quarter.
“Harris Technology is continuing its strong momentum which has delivered another record-breaking quarter. This is particularly pleasing in a traditionally quiet retail period,” CEO Garrison Huang said.
“Our strategy in expanding into the gaming category is paying dividends. Recent demand on gaming graphic cards due to high Bitcoin prices has increased our gaming product revenue,” he explained.
“By identifying market trends and proactively working with vendor partners, we are able to consistently secure supply and ensure healthy stock levels of the most in-demand products, capitalising on these commercial opportunities,” he added.
Looking ahead, the company is planning to potentially increase the number of gaming products and home appliances it offers to keep up with global demand.
Harris Technology Group shares are up 11.5 per cent following today’s quarterly update, trading at 14.5 cents per share at 12:27 pm AEST.