Markets & Investment news

Subscribe to industry newsletters

Press offices

Enquire about a press office
Bizcommunity has over 400 industry contributors and we always welcome further contributions and contributors.
Advertise with us
Advertise & RatesMy Account
Company press officeList company
Recruitment packagesSubmit job ad
Download ratecard
Markets & Investment news

Coronation's earnings up 12% to 197.8c

14 Nov 2012 08:05
Coronation Fund Managers on Tuesday (13 November) reported diluted headline earnings per share of 197.8 cents for the year ended September 2012 - up 12% from the previous year's 176.1 cents.
Assets under management increased by 37% to R339bn‚ benefitting from net inflows of R41.5bn and strong capital markets.

The company described the results as "solid‚" with the business recording significant net inflows‚ entrenching its position within the institutional market and consolidating its standing as the second largest manager of long-term funds in the collective investment schemes sector.

Revenue increased by 14% to R2.0bn on the back of strong growth in assets under management. Total operating costs increased by 21% to R1.0bn.

The company said the institutional business enjoyed exceptional growth‚ attracting net inflows of R17.6bn - an increase of 77% over last year's strong R9.9bn. "This is a significant achievement given the relative maturity of the market‚" it said.

Accounting for projected cash requirements‚ a final gross dividend of 111 cents per share was declared‚ resulting in a net dividend of 94.35 cents a share. Together with the interim gross dividend of 95 cents‚ this amounts to a total gross dividend of 206 cents per share for the year.

Looking ahead‚ the group said it is investing for the long term across all client portfolios. In the current low growth‚ low inflation environment the search for dominance is crucial for achieving strong long-term returns for all stakeholders.

"In the year ahead‚ we will continue to consolidate our institutional business and nurture our international and retail franchises‚" it concluded.


SOURCE

I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
    
 
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.

News