- IT and electronic goods company Harris Technology (HT8) has capitalised on the online shopping boom in its latest round of half-year results
- The IT and electronic goods company has seen a 365 per cent jump in revenue to $19.4 million
- The company’s profit after tax has also jumped, with Harris reporting a 741 per cent leap to over $1 million, compared to 2019’s $165,684 loss
- Over the period, the company beat its record daily sales from Amazon Australia’s Black Friday and Cyber Monday trading period, bringing in over $729,000
- Additionally, the company recently announced the retirement of Non-Executive Chairman Andrew Plympton, with Alan Sparks taking on the new role
- On the market this afternoon, Harris is in the grey and trading at 13 cents per share
IT and electronic goods company Harris Technology (HT8) has capitalised on the online shopping boom in its latest round of half-year results.
The IT and electronic goods company has seen a 365 per cent jump in revenue to $19.4 million.
Profit after tax has also jumped, with Harris reporting a 741 per cent jump to over $1 million compared to 2019’s $165,684 loss.
Over the past six months, Harris Tech has grown its business rapidly, beating its record in daily sales over Amazon Australia’s Black Friday and Cyber Monday trading period, bringing in over $729,000 in sales.
Due to this, the company leased another warehouse near its current facilities to keep up with the shopping frenzy.
Harris Tech is well funded with $2.23 million in cash and cash equivalents at the end of the period.
Director retirement
The consumer stock also recently announced the retirement of Non-Executive Chairman Andrew Plympton.
Andrew was the Chairman of The Swish Group— the previous name for Harris Tech — from 2010. He continued as Chariman after the Harrish Tech merger and provided strong leadership.
Harris Tech is thankful for Andrew’s contribution over the past 11 years.
Alan Sparks will be the new Non-Executive Chairman after being appointed as a non-executive director on December 1, 2020. He will bring over 40 years of experience in the technology retail sector.
On the market this afternoon, Harris is in the grey and trading at 13 cents per share at 2:28 pm AEDT.