Mustek forecasts 270% Surge in headline earnings for H1 2026

Mustek, the South African technology group, has predicted a whopping 250% to 270% increase in headline earnings per share (HEPS) for the half year to December 31, 2025.

The group share price closed 4.45% higher on the JSE Friday to R15.25, a strong gain considering the JSE's Software & Computer Services Index was lower by 1.67% on the day. A year ago, Mustek's share price traded at R14.50.

The group that assembles, distributes, and services ICT products and solutions said in a trading statement Friday that HEPS is expected to be between 82.13 cents and 86.83 cents compared with 23.47 cents at the same time last year.

Basic earnings per share is expected to be between 255% and 275% higher than reported in the comparative period, at between 81.69 cents and 86.29 cents versus 23.01 cents the year before.T

The group attributed the sharp improvement, compared to the first half of the 2025 financial year, mainly to a material reduction in finance costs and a more favourable foreign exchange impact, supported by cost control and improved contributions from equity-accounted investments.

Net asset value per share was expected to be between 2 920 cents and 2 940 cents, compared to 2 826.95 cents as at December 31, 2024.The half year results are expected to be released on February 25, 2026.

The big increase in interim earnings follows a strong 2025 financial year, where the final dividend was nearly doubled to 13.75 cents a share, up from 7.50 cents a share the year previously. Mustek took a significant step into the artificial intelligence sector in August with the acquisition of a 51% stake in newly established Business AI.

Business AI was building a dedicated B2B marketplace portal to connect enterprises with vetted AI vendors, platforms, solution providers and data centres. 

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