Mustek shares sink as it warns of big hit to earnings

📆 11/09/2024 07:07 a. m.
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Shares in Mustek fell by more than 10% after the technology distributor warned of a steep decline in full-year earnings.

fell by more than 10% on the JSE on Wednesday after the technology distributor warned of a steep decline in full-year earnings.said it expects to report a 70-80% decline in headline earnings per share for the period ended 30 June 2024 compared to last year’s figure of R3.75.

“The operating environment for the year ended 30 June 2024 was marked by tough economic conditions and cautious market sentiment leading up to the general elections in South Africa,” it told investors.

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