Coronation assets management profit falls to ZAR1.9 billion

Universal Insurance

Coronation Assets management said in its financial report for 2017 that its revenue decreased to ZAR1.9 billion compared to ZAR2.1 billion recorded same period 2016.

operating revenue for the period was lowered to ZAR1 billion against ZAR1.1 billion posted in 2016.

The company’s profit attributable to equity holders of the company fell to ZAR763 million in contrast to ZAR804 million reported the fiscal year 2016, while headline earnings per share weakened to 220.7 cents per share against 229.7 cents per share posted in the fiscal year 2016.

Coronation Assets management continue to reward shareholders through regular and significant distributions of free cash flow generated. The company endeavour to distribute at least 75% of after-tax cash profit. After assessing any projected future cash requirements, a gross dividend of 220.0 cents per share has been declared for the interim period ended 31 March 2017, resulting in a net dividend of 176.0 cents per share for shareholders subject to Dividends Tax (DT).

Company Information
The group is focused on long-term investing, which remains the bedrock of our business. Volatile markets offer opportunities to take long-term positions that will ultimately deliver compelling returns for our clients over meaningful periods. We believe our portfolios are well-positioned to manage the risk that recent political uncertainty has created for South African investors. While continued near-term volatility and uncertainty may persist, our robust investment approach enables us to make the appropriate long-term decisions for the benefit of our clients. Our success in achieving this will generate long-term value for all stakeholders.

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