Harris Technology is set to return to profitability for the 2020 financial year thanks to a boost in consumer PC and personal protective equipment (PPE) sales on the onset of the COVID-19 pandemic.
The online retailer said it expects to deliver profit before tax of $700,000 for the year ending 30 June 2020, compared to a loss before tax of $732,000.
Revenue is also expected to be up 44 percent to $13 million, compared to $9 million in the year ended 30 June 2019.
The increases were driven by growth in Harris’s traditional IT and consumer electronics (IT/CE) division and the recently established PPE business, Pro-Hygiene.
Harris managing director Garrison Huang said, “We are delighted by the strong growth in revenues over the past year, and look forward to this continuing as we head into FY21 and beyond.”
“We are continuing to develop strategies to expand our online offerings in the IT/CE division to build on the momentum generated in the first half of calendar year 2020 and maintain growth.”
Harris’ board and management are also looking to build on the success of Pro-Hygiene, by “allocating sufficient resources” to meet new demand for the division’s products.