| Fri 24 Aug 2007, 16:10 | | MST - Mustek Limited - Trading statement |
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MST
MST
MST - Mustek Limited - Trading statement
MUSTEK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/070161/06)
Share code: MST
ISIN: ZAE000012373
("Mustek" or "the company")
TRADING STATEMENT
In terms of the JSE Limited`s Listings Requirements, companies are required to
publish a trading statement as soon as they are reasonably certain that the
financial results for the current reporting period will be more than 20%
different than that of the previous corresponding period.
In light of the above, Mustek`s shareholders are informed that, for the year
ended 30 June 2007, Mustek`s headline earnings per share is expected to be
between 20% and 30% higher than the headline earnings of 44.15 cents per share
of the previous corresponding period.
Headline earnings per share have been negatively affected by losses incurred in
Mecer Brazil (12,8 cents), share-based payments expensed (7,3 cents), other non-
operating losses (2,3 cents) an additional provision for doubtful debts at a
joint-venture (4,3 cents) and a downward adjustment to the deferred tax asset as
a result of the STC rate change from 12,5% to 10% (1,5 cents). In total,
headline earnings per share have been negatively affected by 28,2 cents per
share as a result of these expenses. The share-based payments expense should
reduce by 25% in the 2008 financial year and the directors believe that the
losses in Mecer Brazil, other non-operating losses, additional doubtful debt
provision and the downward adjustment of the deferred tax asset should not be
repeated.
The above information has not been reviewed or reported on by the company`s
auditors. The company`s final results for the year ended 30 June 2007 are
expected to be published on 31 August 2007.
Midrand
24 August 2007
Sponsor
Deloitte & Touche Sponsor Services (Pty) Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1996/000034/07)
Date: 24/08/2007 16:10:03 Produced by the JSE SENS Department.
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