Mustek earnings tumble in tough climate

For the six months ended 31 December 2023, the group said operating profit declined by 25.3% to R180.6-million, while revenue declined by 13% to R4.3-billion.

But higher interest rates resulted in a 50.5% increase in finance costs to R115.1-million , with the average prime interest rate 24% higher in this period compared to a year ago.“The average borrowing rate applicable to the group’s US dollar-based borrowings nearly doubled to 5.3% from 2.9% in the comparative period.

“We are cautiously optimistic that the AI PC will bring a new round of potential growth in the PC market,” it said, referring to demand for computers with processors capable of on-device generative artificial intelligence tasks.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Mustek warns of lower earnings after load-shedding boomMustek has issued a trading statement warning shareholders to expect significantly lower earnings when it announces its interim results.
La source: mybroadband - 🏆 11. / 67 Lire la suite »

JSE launches latest Investment Challenge, kicks off in MarchOn 11th March, the Johannesburg Stock Exchange (JSE) will launch its 51st Investment Challenge, with applications now open.
La source: htxtafrica - 🏆 42. / 51 Lire la suite »

Afrimat Warns Public of Scammers Impersonating Company Representatives on TelegramJSE-listed mining company Afrimat has had its hands full with scammers pretending to be its representatives on the popular messaging platform Telegram for nearly two years. The company recently put out at least its third statement to the public, warning people to be wary of con artists.
La source: mybroadband - 🏆 11. / 67 Lire la suite »