[TechCentral] Mustek rises on earnings update

[TechCentral] Mustek rises on earnings update

Shares in Mustek rose more than 4% on the JSE on Tuesday morning after the ICT supplier said headline earnings per share will fall by between 20% and 30% for the six months ended 31 December 2016, compared to the same period a year ago.

The company warned shareholders that the Heps line is likely to be between 36,17c and 41,33c, compared to 51,67c a year ago.

Earnings per share will also fall by between 20% and 30%, Mustek said. Despite the slide in earnings, the company’s share price was last quoted up 4% over Monday’s close at R4,65. (Update: Mustek’s share price closed down 0,5% at R4,45 at the close.)

Mustek said net asset value per share is expected to rise to between R10,65 and R10,70, compared to R9,83 a year ago.

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