Shares in JSE-listed technology company Mustek leapt by more than 13% on Monday after it told shareholders that its headline earnings per share (Heps) would more than double in the six months ended 31 December 2020.
Both Heps and EPS would rise by at least 135%, Mustek said in a trading statement. It said it did not yet have a reasonable degree of certainty on the specific percentage increases. It did not provide an explanation for the sharp increase in earnings.
“A further trading statement that will include the expected date of release of its financial results will be published once the company obtains reasonable certainty to provide guidance on the percentages and ranges to describe the differences,” it said.
The share price closed 13.1% higher at R9.50/share after touching R10/share earlier in the session. The move higher means Mustek is now trading at levels last seen in 2007. — (c) 2021 NewsCentral Media