SOUTH African computer company Mustek Ltd on Monday reported a halving in net profit for the first six months to end-December 2000 to R19.6m from almost R41m last time. Earnings per share fell to 19.62 cents from 40.96 cents, while headline EPS dropped to 29.77 cents from 45.20 cents. It blamed the lower headline result on finance costs, a higher effective tax rate, some underperfoming subsidiaries and exceptional sales ahead of Y2K in the comparable period. In the first six months of its financial year, Mustek raised its stake in computer components firm Rectron to more than 50%, which meant that Rectron’s earnings were for the first time consolidated. This boosted revenue to R973.5m from almost R721m. – Reuters
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