CEO, Garrison HuangSource: 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
CEO, Garrison HuangSource: ARNet
