Rand volatility has had a negative effect on Mustek's earnings and the IT company is expected to post reduced earnings as a result.
According to a statement released by the company: "The volatility of the rand negatively affected Mustek's earnings and, as a result, realised and unrealised foreign exchange losses have been incurred."
As a result, for the period ended 30 June, Mustek expects to announce headline earnings per share and basic earnings per share will drop by between 30% and 35% lower than last year.
In 2008, headline earnings per share were 73,73 cents and basic earnings per share were 73,78 cents. For 2009, net asset value per share is expected to be between 520 cents and 530 cents.