Mustek: Interim update boosts shares

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Mustek’s shares posted strong gains after the computer hardware distributor said yesterday that it was expecting an increase of between 25 percent and 40 percent in headline earnings a share for the six months to December compared with a year earlier. It anticipated growth of the same magnitude in earnings a share over the period compared with reported earnings a share of 31.5c for the half-year to December 2012. In August last year Mustek said it would raise its sales of media tablet devices to offset declining personal computer sales. The Gauteng-based firm also manufactures electronics such as digital photo frames and portable dvd players. Results are due on or around February 20. The stock closed 3.64 percent up at R5.70 on the JSE yesterday, after rising as high as R6.50 earlier in the day. – Asha Speckman

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