Mustek warns of lower earnings after load-shedding boom

Mustek has informed shareholders to expect 55% to 65% lower headline earnings per share.

The company expects to report headline earnings of between 77.61 cents and 99.78 cents per share for the half-year ended 31 December 2023.

This is substantially lower than the 221.74 cents per share headline earnings it reported last year.

It said basic earnings per share is expected to take a similar hit.

“The decline in the Group’s performance reflects the adverse impacts of the prevailing local and economic challenges,” Mustek stated.

“Revenue was impacted by a decline in the sale of green energy products from a strong comparative period. In addition, higher interest rates impacted finance costs.”

Mustek said it expects to release its unaudited half-year financial results for the period ending 31 December 2023 on SENS on or about 6 March 2024.

The above information has not been reviewed or reported on by the company’s external auditors.

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Mustek warns of lower earnings after load-shedding boom