PC manufacturer Mustek`s is to report at least a 30% decline in its earnings for the six months to 31 December.
The group has issued a trading statement that blames the performance mainly on the strengthening of the rand against the dollar.
"The decrease is a result of the effect that the strengthening rand had on the selling prices of personal computers and computer components as well as Mustek`s policy to take out forward cover on US dollar exposure for imports," it says.
However, the group says its board is of the opinion that the results will not affect Mustek`s ability to declare an interim dividend of at least the same amount as that of the prior-year period.
"Trading during January 2004 has been very positive," it says. "The first phase of the GautengOnline project, which consisted of 500 schools, was rolled out with Mustek equipping 170 of these schools.
"It is expected that the remainder of the contract for approximately 2 000 additional schools will soon be awarded."
The GautengOnline project aims to provide 2 000 public schools with 25 computers and Internet access by 2006.
Mustek says it also received orders for about 12 000 PCs from central government last month and has been successful with a tender to supply PCs and printers to the South African Revenue Service.
The interim results are expected to be published towards the end of this month.
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