Mustek to report stronger full-year earnings

Listed IT distributor Mustek said on Thursday that it expects headline earnings per share to be as much as a third higher in the year to 30 June 2018. The share price rose.

“Mustek’s shareholders are informed that, for the year ended 30 June 2018, Mustek’s headline earnings per share are expected to be between 23% and 33% higher than the previous financial year at between 99.95c and 108.08c (2017: 81.26c),” it said in a statement on the JSE’s stock exchange news service.

Basic earnings per share are expected to be between 23% and 33% higher than the previous financial year at between 98.79c and 106.83c (2017: 80.32c).

Net asset value per share is expected to be between 15% and 16% higher than the previous financial year at between 1 344.44c and 1 356.13c (2017: 1 169.08c).

The numbers show a slowdown in earnings growth at Mustek in the second half of the financial year. In the first half, the company hiked headline earnings per share by 55.5%.

The share was trading up 2.3% at R6.80 at 9.30am in Johannesburg.  — © 2018 NewsCentral Media