Mustek expects leap in earnings - TechCentral

Mustek expects leap in earnings


Technology company Mustek expects its headline earnings per share (Heps) have risen by as much as 45% in the 12-month period ended 30 June 2014 compared to the same period a year earlier.

In a statement to shareholders on Thursday, the company — which is particularly well known for its Mecer brand of computers — said that it expects that its full-year Heps will be between 35% and 45% higher than the 72,85c reported a year ago. Earnings per share are likely to be between 23% and 33% higher than the 74,43c reported in 2013.

Net asset value per share is expected to be between 855c and 865c, compared to 762,1c on 30 June 2013.

Mustek distributes technology products for a large number of international equipment manufacturers, including Huawei, Lenovo, Acer, Brother, Toshiba and Epson.

The company’s share price was trading up by 1,3% at R7,80/share on Thursday morning, giving it a market capitalisation of R832m. The counter has added 43% in the past year, with most of that gain — 40% — coming in the past six months.

Mustek, which also owns technology distributor Rectron, won a contract earlier this year to supply R128m worth of signalling and telecommunications equipment developed by China’s Huawei to Zambia Railways.

Mustek was contracted to supply the equipment to a consortium made up of Huawei International, Bombardier Transportation and Zambian company GMC Technologies. The consortium has been contracted to provide technology upgrades to the value of US$51m.  — © 2014 NewsCentral Media

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