Coronation flags 30% earnings rise despite flat second-half AUM
Coronation Fund Managers’ assets under management rose just 0.8% in the second half of its financial year
Coronation Fund Managers has advised shareholders to expect an earnings rise of up to 30% when it releases its annual results in November, despite its assets under management (AUM) barely growing in the second half of its financial year.
The Cape Town-based fund manager said in a Thursday trading statement that earnings per share, headline earnings per share and diluted headline earnings per share for the fiscal year ended September 30, were expected to rise 20%-30% to between 478.2c and 518.1c per share, compared to the corresponding period the previous year. Coronation said those earnings included the net impact of unrealised fair-value gains of 17c per share, up from 15.4c per share in the prior year...