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HARRIS TECHNOLOGY GROUP LIMITED - Corporate Spotlight

Harris Technology is one of Australia’s largest resellers of technology products and... Harris Technology is one of Australia’s largest resellers of technology products and solutions aimed specifically at small and medium businesses. We maintain a steadfast commitment to providing SMB operators with the widest scope of IT solutions available on the market today.More

Corporate Spotlight

Harris Technology is one of Australia’s largest resellers of technology products and solutions aimed specifically at small and medium businesses. We maintain a steadfast commitment to providing SMB operators with the widest scope of IT solutions available on the market today.
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HT8 LEADING THE WAY IN E-COMMERCE

HT8 REAPS $729K IN BLACK FRIDAY SALES

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Harris Technology (ASX:HT8) reaps $729K in sales over Amazon’s recent shopping frenzy

Consumer Discretionary

ASX:HT8    MCAP $52.27M

Harris Technology (ASX:HT8) - CEO, Garrison Huang - The Market HeraldCEO, Garrison HuangSource: ARNet

·IT and electronic goods company Harris Technology (HT8) achieved $729,000 over Amazon Australia's Black Friday and Cyber Monday trading period

·Importantly, Black Friday and the Saturday broke the daily sales record in the company's history

·To put things into context, Amazon Australia's average daily sales in November was $67,000 prior to the event

·In light of this and of the upcoming Christmas and Boxing Day shopping season, Harris Tech has leased another warehouse

·The extra space will allow it to hold more inventory required to meet the growing demand for its products

·Harris Technology's shares are down 4.88 per cent and are trading at 19.5 cents

Harris Technology (HT8) has reported exceptional sales figures for Amazon Australia's Black Friday and Cyber Monday trading period.

In total, the online IT and electronic goods company racked up $729,000 over four days.Broken down, Harris Tech reported $235,000 on November 27, $273,000 on the 28th, $103,000 on the 29th and $118,000 on November 30.

Read the full article on The Market Herald



HT8 SEES 51pc INCREASE IN REVENUE

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Harris Technology Group (ASX:HT8) sees 51pc increase in revenue for FY20

Consumer Discretionary

ASX:HT8    MCAP $37.91M 
Harris Technology (ASX:HT8) - CEO, Garrison Huang - The Market Herald
CEO, Garrison Huang
Source: ARNet


  • Electronic consumer goods company Harris Technology Group (HT8) has reported a 51 per cent increase in revenue for the 2020 financial year
  • Specifically, revenue for FY20 was $13,638,567, compared to $9,003,268 in FY19
  • Harris also experienced a significant turnaround from FY19's operating net loss of $732,037 to making a net profit from operations of $1,009,522
  • In terms of revenue, sales in the June quarter exceeded expectations with over $1 million in revenue reported
  • This momentum continued into FY21, with Harris achieving a record monthly revenue of $3.44 million in July — this is a significant climb from the $780,000 in July last year
  • Harris attributes its strong performance to branching into the sanitiser realm during COVID-19 and focusing on online channels as more people are buying online
  • Harris recently raises $3.5 million and will soon raise a further $1.4 million - leaving it financially supported to drive further growth
  • Company shares are trading steady at 16 cents in early afternoon trade

Electronic consumer goods company Harris Technology Group (HT8) has reported a 51 per cent increase in revenue for the 2020 financial year.


Specifically, revenue for FY20 was $13,638,567, compared to $9,003,268 in FY19.


Further, net profit from operations was $1,009,522. This marks a significant turnaround from FY19's operating net loss of $732,037.

Over the course of the 2020 financial year, Harris focused on developing its online IT and consumer electronics business as well as reviewing new opportunities. Namely, the company delved into the sanitiser craze that stemmed from COVID-19 earlier this year.

Harris launched its Pro-Hygiene division in April, which saw its shares skyrocket 232 per cent. 


The Pro-Hygiene range includes face masks, hand sanitiser gels and alcohol wipes. The range has recently been expanded to include a foot-operated hand sanitiser dispenser and a non-touch infrared thermometer.


Sales exceeded expectations with over $1 million in revenue recorded in the June quarter.


The sales momentum has continued into FY21 with Harris reporting a record amount of monthly revenue. In July alone, it achieved an unaudited revenue of $3.44 million. This is a significant climb from the $780,000 in July 2019.


Early in FY19, Harris sold its subsidiary, Anyware Corporation. This allows it to focus on developing its business-to-consumer (B2C) sales channels for IT and consumer electronic products.


Positively, COVID-19 caused a shift in the way consumers buy. According to the Australian Bureau of Statistics, online sales in Australia increased by 134 per cent in the June 2020 quarter.


As a result of increased working and learning from home, Harris experienced strong sales across its electronic goods and consumables such as mobile phone accessories, inks and toners, antivirus software and gaming products.


Of course, the company also attributes its positive performance to its strong distribution relationships with Amazon, Kogan, Catch, eBay, and more.


At the end of FY20, Harris had $1,171,184 in the bank, which marks a $162,768 increase from the $1,008,416 it started the financial year with.


In early August, Harris raised $3.5 million through a private placement. The company also shed light on its plan to raise a further $1.4 million through a share purchase plan.


"To date, the SPP is oversubscribed. We would like to thank our new and old shareholders for their support and look forward to delivering good shareholder returns in the coming months and years," CEO Garrison Huang said.


The share purchase plan will close on September 4.


With strong funding support and a shift in the way consumers shop, Harris believes it is well-positioned to capitalise on the 'retail revolution' over the next few years.


Company shares are trading steady at 16 cents in early afternoon trade.


Read the full article on The Market Herald here: https://themarketherald.com.au/harris-technology-group-asxht8-sees-51pc-increase-in-revenue-for-fy20-2020-09-01/

ABOUT HARRIS TECHNOLOGY

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Harris Technology is one of Australia’s largest resellers of technology products and solutions aimed specifically at small and medium businesses. We maintain a steadfast commitment to providing SMB operators with the widest scope of IT solutions available on the market today.

We are dedicated to continually improve your experience with us through exemplary customer service, attention to detail, expert technical advice, and an experienced team that works seamlessly to get you what you need, when you need it.

Our long and esteemed history in the IT space has allowed us to cultivated long-standing relationships with some of the industry’s most well-known brands, resulting in only the best products, at affordable prices. Our vendors include but are not exclusive to:

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What can you expect from Harris Technology?


Expert Advice

Call our experienced customer service team to receive expert advice about anything technology related.


Order Status Updates

Receive timely reminders about the status of any orders you have placed with Harris Technology. 


Timely Delivery

Expect your delivery on time, every time when you buy with Harris Technology. 


Simplified Ordering Process

We take the hassle out of ordering 24 hours a day, 7 days a week. Just visit www.ht.com.au or call 1300 13 9999 to experience just how easy it can be. 


Huge Product Range

We take an enormous amount of pride in the sheer scope of IT solutions we offer at Harris Technology. No other SMB operator can boast the product portfolio that we do! 


Competitive Pricing

Our long and esteemed history in the IT sector has allowed us to develop and nurture long standing relationships with our suppliers. What this means is we are able to offer some of the most competitive pricing on the market today. 


We have recently transferred ownership and are thus on the brink of a very exciting new time for Harris Technology. We are committed to doing more for you and look forward to continuing to provide all your IT needs in order to maximise the efficiency and profitability of your company.


If you're looking for a business partner for ongoing IT supply, start reaping the rewards of working with one of Australia's largest independent IT specialists.


Making technology purchases easier for you is just plain good business sense for us!

 

https://www.ht.com.au/home.hts

VIDEO & MEDIA

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HT8 LEADING THE WAY IN E-COMMERCE




HT8 POSTS RECORD QUARTERLY PROFIT IN Q3


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