Mustek shares rise on positive earnings update - TechCentral

Mustek shares rise on positive earnings update

Shares in Mustek climbed in early trade on Tuesday after the ICT company said it expects headline earnings per share to rise by as much as 25% in the six months ended 31 December 2018.

Heps will rise by between 15% and 25% to between 66.79c and 72.6c compared to same period in 2017, it said.

Basic earnings per share are expected to be between 32% and 42% higher than the previous year at between 75.41c and 81.12c. The improvements come in spite of the weak economy, which was in recession for a portion of the company’s reporting period.

Net asset value per share will also rise — to between R14.30 and R14.40, compared to R12.70 at the end of 2017, Mustek said.

The JSE requires companies to publish a trading statement when they are “reasonably certain” that their financial results will differ by at least 20% when compared to the previous corresponding period.

Mustek, whose share price was trading 4.7% higher at 9.07am in Johannesburg at R7.85, expects to release its interim financial results on 22 February.  — (c) 2019 NewsCentral Media

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