Coronation predicts big slump in annual earnings due to tax dispute

Philippa Larkin

Coronation Fund Managers said Friday it expected earnings would decrease by between 55% and 65% as a result of the financial impact of the Supreme Court of Appeal judgement regarding the tax litigation for the group’s international operations. The group said in a trading update that total assets under management as at September 30, 2023 was R602 billion. “The full impact on earnings of the tax and interest related to the aforementioned tax ruling amounts to 205 cents per share,” it said in the statement. The Constitutional Court issued a directive that it would hear the company's application for leave to appeal and hear arguments on the merits of the matter. The application was still to be set down for hearing by the Constitutional Court. Fund management earnings per share…

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Cape Times (Digital) - 1 Issue, 2023-10-23

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