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CORONATION FUND MANAGERS LIMITED - Further trading statement

Release Date: 15/05/2024 15:30
Code(s): CML     PDF:  
Wrap Text
Further trading statement

(Incorporated in the Republic of South Africa)
(Registration number: 1973/009318/06
Share code: CML
ISIN: ZAE000047353
LEI: 3789001BC9A29E6FF77
("Coronation" or "the Company")


Shareholders are referred to the initial trading statement released on SENS on 25 April 2024
wherein shareholders were advised that the board of directors of Coronation ("Board") were
satisfied that a reasonable degree of certainty existed that the Company's earnings would
increase by more than 20% from the prior corresponding period.

Consistent with the guidance previously provided, the Board is now satisfied that a reasonable
degree of certainty exists that the Company's earnings will increase as outlined in the ranges
detailed below.

Fund management earnings per share for the period ended 31 March 2024 ("current period")
is expected to be between 183.5 to 186.1 cents per share (an increase of 196.5 to 199.1 cents
per share) when compared to the losses of 13.0 cents per share for the period ended 31 March
2023 ("prior period"). Fund management earnings are used by management to measure
operating financial performance, being profit for the period excluding the net mark-to-market
impact of fair value gains and losses, and related foreign exchange, on investment securities

Earnings per share ("EPS"), headline earnings per share ("HEPS") and diluted headline
earnings per share ("DHEPS") for the current period are expected to be between 199.7 to
200.9 cents per share (an increase of 193.5 to 194.7 cents per share) when compared to the
EPS, HEPS and DHEPS of 6.2 cents per share reported for the prior period. Included in the
current period earnings is the net impact (mark-to-market, as well as foreign exchange gains
and losses on investment securities held) of unrealised fair value gains of 14.7 cents per
share, compared to gains of 19.2 cents per share in the prior period.

The financial information on which this trading statement has been based has not been
reviewed and reported, nor audited, by Coronation's external auditors. Coronation's reviewed
financial results for the period ended 31 March 2024 will be released on or about 21 May 2024.

Cape Town
15 May 2024

Valeo Capital (Pty) Ltd

Date: 15-05-2024 03:30:00
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