Join our daily newsletter At The Bell to receive exclusive market insights
- Platform reseller and tech business Harris Technology Group (HT8) has laid out its short, medium and long term growth strategy in an update to shareholders
- Today’s investor presentation highlights the company’s short term aim to be the leading provider of tech solutions on platforms like Amazon and eBay
- It’s an attainable goal for the business, which was Amazon Australia’s best marketplace seller in July
- In the medium term, HT8 wants to become the number one seller on all major eCommerce platforms
- After that, the company has its sights set on becoming a global leader in e-commerce by launching its website internationally
- To achieve these goals, HT8 has begun increasing its inventory levels after successfully carrying out a $4.9 million capital raise in August
- Shares in Harris Technology have ended today’s session up 3.85 per cent at 13.5 cents per share
Harris Technology Group (HT8) has laid out its short, medium and long term growth strategy in an update to shareholders.
The investor presentation released to investors today basically highlights the company’s progress so far, as well as its future goals.
In the short term, the platform reseller said it wants to become the leading provider of tech solutions on platforms such as Amazon, eBay, kogan.com, and Catch.
That should prove to be an attainable goal for the business, which was ranked Amazon Australia’s best marketplace seller in the month of July 2020.
In the medium term, Harris has its sights set on becoming the number one seller on all major eCommerce platforms, including new partners MyDeal and Groupon.
Once it’s achieved that goal, the company will hone in on the international expansion of its website and ultimately becoming a global leader in eCommerce.
To achieve these goals, Harris revealed in today’s presentation that it had increased its inventory levels to $4.7 million, up from $2.2 million in the last quarter, to meet growing demand heading into the holiday season.
The business was able to boost its inventory after successfully carrying out a $4.9 million private placement and share purchase plan back in August of this year.
Following today’s growth strategy update, shares in HT8 closed trading up 3.85 per cent at 13.5 cents a pop.
