Mustek limited: Trading statement for the year ended 30 June 2024

This trading statement is published in compliance with paragraph 3.4(b) of the JSE Listings Requirements. Mustek shareholders are informed that, for the year ended 30 June 2024, Mustek’s headline earnings per share is expected to be between 70% and 80% lower than reported in the comparative period at between 75,00 cents and 112,50 cents (30 June 2023: 374,99 cents). Basic earnings per share are expected to be between 85% and 95% lower than reported in the comparative period at 18,63 cents and 55,89 cents (30 June 2023: 372,61 cents). The difference between headline and basic earnings is due to an impairment of the investment in Zaloserve (Sizwe IT Africa), which has been classified as an asset held for sale as of 30 June 2024. 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. Prevailing uncertainty froze corporate and government spending and the unexpected reduction of loadshedding abruptly ended the renewable energy boom, which fuelled our growth last year. Reduced demand for green energy products put us in a challenging situation with surplus stock in a tough macroeconomic environment with high interest rates. Accordingly, the Group’s performance declined. Net asset value per share is expected to be between 2 770,00 cents and 2 820,00 cents, compared to 2 724,36 cents as of 30 June 2023. The company expects to release its financial results for the year ended 30 June 2024 on SENS on 19 September 2024. A virtual results presentation will be hosted on Thursday, 19 September 2024 at 10:00 am The above information has not been reviewed or reported on by the company’s external auditors. For the full document see the link below: Mustek Limited: Trading Statement Full Report