Coronation forecasts earnings rise

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Johannesburg - Coronation Fund Managers expected its interim diluted headline earnings a share to rise as much as 80 percent, it said.

Coronation, one of the country’s biggest fund managers, said it planned to release its financial results for the six months to March 31 on or around May 20.

Shareholders could expect earnings a share and headline earnings a share increases of between 45 percent and 65 percent from the R1.782 and R1.781, respectively, reported in the previous comparable period.

Diluted headline earnings a share were expected to be between 60 percent and 80 percent higher than in March last year, when they recorded an 88 percent increase.

Coronation’s assets under management at the end of March were R547 billion. In the six months to March last year, the company had R409bn of assets under management.

Coronation was crowned the top asset manager for the fifth time at this year’s Raging Bull Awards.

Coronation shares increased by 0.94 percent to close at R102.15 yesterday. – Londiwe Buthelezi

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