Coronation Fund Managers Ltd. (CML.JO), a South African third-party fund manager, on Tuesday reported a decline in net income for the full year, reflecting higher income tax expenses. However, the company recorded an increase in revenue.
For the 12-month period to September 30, the company recorded a net income of R 1.676 billion, less than the R 2.205 billion in the previous year.
Net profit per share was 474.3 cents, compared with the prior year's 630.5 cents per share. Headline earnings stood at 474.3 cents as against 630.5 cents per share a year ago. Fund management earnings per share (excluding the impact of the SARS matter) were 452.2 cents per share, up 12% from last year.
Profit before income tax was R 2.202 billion, higher than R 2.121 billion in 2024. Profit from fund management moved up to R 2.051 billion from last year's R 2.017 billion.
Total assets under management (AUM) increased to R761 billion from last year's R667 billion. Average AUM stood at R705 billion as against R631 billion in the previous year.
Revenue was R 4.291 billion, up from the previous year's R 3.913 billion.
For the full year, the company will pay a final gross dividend of 254 cents per share, resulting in a net dividend of 203.200 cents per share. This dividend will be paid on December 8 for shareholders of record as of December 5.
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