In a trading statement, Mustek said it expects to report a 70-80% decline in headline earnings per share for the period ended 30 June 2024 compared to last year's figure of R3.75.
The earnings slump comes after the company reported a 58.8% decline in headline earnings per share in its first-half reporting period .
"The operating environment for the year ended 30 June 2024 was marked by tough economic conditions and cautious market sentiment leading up to the general elections in South Africa," it told investors.
"Prevailing uncertainty froze corporate and government spending, and the unexpected abatement of load shedding abruptly ended the renewable energy boom, which fuelled our growth last year."
It said reduced demand for green energy products put Mustek in a "challenging situation with surplus stock in a tough macroeconomic environment with high interest rates. Accordingly, the group's performance declined."
