Rand strength dented Mustek`s revenue in the year to 30 June, despite an increase in unit sales of its Mecer PCs.
While unit sales were up 19% compared with the previous year, overall revenue fell by 9.8% from R2.98 billion to R2.68 billion. CEO David Kan says the rand strengthened by an average of 24% from the previous period, which drove down the average selling price of Mecer PCs and accessories.
Earnings before interest, tax, depreciation and amortisation dropped from R234.45 million to R136.65 million, while pre-tax profit of R88.73 million was down from R195.5 million previously.
The group`s net profit fell from R91.75 million to R50.8 million, while headline earnings of 72.5c a share compared with 118.65c the previous year.
Kan says subsidiaries Rectron and Brother Business Machines performed well, increasing their gross profit percentages to compensate for decreased revenue due to the strengthening of the rand.
Overall, the gross profit percentage improved to 17.5% from 15.4%.
He says PC unit growth in SA continues to be positive and the group expects accelerated growth in the years ahead.
The group has declared a dividend of 25c a share, bringing the total dividend for the year to 50c, unchanged from last year.
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