- Harris Technology Group (HT8) has seen its shares skyrocket over 230 per cent after announcing a new line of protective hygiene products amid the COVID-19 pandemic
- The newly announced "Pro-Hygiene" range will include face masks, hand sanitiser gels and alcohol wipes
- Harris has been authorised to sell Jointown Pharmaceutical Group's facemasks and COTDYA Fine Chemicals' hand sanitisers
- The consumer goods company expects to achieve up to $400,000 in total revenue from the "Pro-Hygiene" range by the end of this quarter
- Company shares are up 232 per cent after this news and are trading at 6.3 cents each
Consumer goods company Harris Technology Group (HT8) has seen its shares skyrocket 232 per cent after announcing a new line of protective hygiene products.
The company has established the "Pro-Hygiene" range which will include a range of face masks, hand sanitiser gels and alcohol wipes.
Harris expects this line will result in total revenue sales of up to $400,000 for the quarter ending June 30 2020. It will achieve this through direct sales via its e-commerce website and other distribution partners.
"The establishment of the ProHygiene range is a long-term strategy as we expect that spending by consumers on PPE products will be far greater in 2020 and onwards than it has been in the past," Managing Director Garrison Huang said.
Harris is one of many companies that have jumped on the frantic hygiene and sanitiser bandwagon this year during the global COVID-19 pandemic.
The company has been selected by China’s Jointown Pharmaceutical Group, a leading medical supply and distribution company, to distribute its Jointown and Aumacom face masks.
In March 2020 alone, Harris Technology Group sold an initial 30,000 face masks. Furthermore, a new shipment of 200,000 Therapeutic Goods Administration (TGA)-approved face masks have arrived in Australia and will be available for sale in late April.
In addition, Harris will sell COTDYA Fine Chemicals' GOTDYA branded hand sanitiser products in Australia. The first shipment of 90,000 units has been dispatched and is expected to arrive in time for sale in early May.
Company shares are up a staggering 232 per cent after this news and are trading at 6.3 cents each at 2:22 pm AEST.