Big Mustek earnings jump

Mustek has informed shareholders that its headline earnings per share is expected to be between 235% and 255% higher than the previous financial year.

Earnings per share will be between R4.25 and R4.51 (2020: R1.27).

Basic earnings per share is expected to be between 235% and 255% higher than the previous financial year, at between 415,57 cents and 440,38 cents (2020: 124,05 cents).

The announcement comes after Mustek told shareholders on 28 July 2021 that it expects headline earnings per share and basic earnings per share to be at least 190% higher than in the previous financial year.

Mustek said it expects to release its annual financial results on or about 9 September 2021.

These results will exclude the repercussions of the public violence and looting that occurred in the week from 11 to 17 July.

Mustek previously informed shareholders that the losses suffered as a result of its building in KwaZulu-Natal being looted and set on fire are not expected to exceed R20 million.

“The loss of profit due to business interruption will be quantified in due course,” the company said in a statement.

“The Group has appropriate insurance cover and has notified its insurers accordingly.”

Looters attacked Mustek’s offices in the North of Durban, stealing everything of value and leaving the facility wrecked.

Mustek’s Durban offices handled orders from technology retailers in the area, dispatched goods to clients, and offered after-sales support services.


Now read: Tremendous damage caused by looting shown in one table

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Big Mustek earnings jump