Opportunity in adversity at Coronation
The fund manager’s earnings have dived since it lost the latest round in its battle with Sars — so now could be a good time to buy
Coronation’s headline earnings per share (HEPS) loss, which it flagged in a trading update towards the end of April, did not come as a big surprise to those who had paged through its 2022 financial report.
In the notes section on page 137 of the report and in subsequent updates via Sens, the fund manager updated shareholders on a review of its international operations by the South African Revenue Service (Sars). ..
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