Tech group Mustek nearly doubled its annual dividend payout after reporting higher earnings for the year to end-June.
After slashing its final dividend from 77c in 2023 to 7.5c last year, the board declared a R13.75c per share final dividend, indicating positive momentum in the business.
A stronger second half performance saw the group reporting an 8.3% uptick in headline earnings per share to 72.73c, despite a nearly 15% drop in revenue to R7.2bn.
The 2025 financial year “unfolded in a context of considerable complexity and pressure”, the group said.
“On one hand, global demand for digital technologies remained strong. On the other, SA continued to grapple with economic stagnation, high unemployment, public sector bottlenecks and persistent infrastructure failures.
“This duality shaped the group’s approach to managing risk, identifying opportunities and delivering resilient performance.”
Valued at R791m on the JSE, Mustek is an assembler and distributor of ICT products. The company was established in 1987, with its brand portfolio including Acer, Asus, Samsung and Lenovo.
This comes as the takeover of Mustek by Novus has been put on hold. While the Competition Commission and Competition Tribunal approved the deal subject to certain conditions, the takeover regulation panel has created a major hurdle.
In April, Novus filed an urgent court application to set aside a decision by the takeover regulation panel to withdraw its approval for the printing and packaging company’s mandatory offer for Mustek.
Novus, one of SA’s largest print production and manufacturing operators, is offering R13 per Mustek share, or R7 cash plus one Novus share, or two Novus shares for each Mustek share.
Looking ahead, Mustek said: “We head into the new financial year with cautious optimism. The market remains complex, but the opportunities are real and potentially significant.
“With a sharpened cost base, a more focused portfolio and an active pipeline, Mustek is ready to execute and continue delivering trusted technology for real-world impact,” said the group.
The group reported a profit before tax of R46.8m, compared with R40.2m in the previous year.
Since end-June, the group has strengthened its bet on B2B AI services by acquiring a 51% stake in Business AI, “a dedicated B2B marketplace portal for AI”.
A thinly traded stock, Mustek’s share price was 1.78% firmer at the close of trade on Friday at R13.74. The share is down 13.53% since the start of 2025.
Update: September 21 2025
This story has more background information.
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