CML - Coronation Fund Managers Limited - Market update - voluntary announcemen
Coronation Fund Managers Limited
Incorporated in the Republic of South Africa)
(Registration number: 1973/009318/06)
Share code: CML
ISIN: ZAE000047353
("Coronation" or "the Company")
Market update - voluntary announcement
In the financial results announcement for the year ended 30 September 2007
released on 13 November 2007, Coronation cautioned that the renewed
vulnerability in the outlook for financial markets at the time suggested
cautious revenue and profit growth expectations going forward.
Further to this, Coronation now advises that as can be expected, declining
financial market values for the interim period to date have contributed to a
slowdown in revenue growth that will cause first half earnings for the six
months to 31 March 2008 to be lower than the corresponding period.
In addition, the tax rate for the six months to 31 March 2008 will increase
significantly given a dividend tax charge of R15.1 million payable on the
dividend paid in December 2007.
This announcement has not been reviewed by the company's auditors. Coronation
will provide further updates in terms of the JSE listings requirements as and
when required.
The publication of the interim results for the six months to 31 March 2008 is
expected on or about 13 May 2008.
Enquiries
Coronation Fund Managers 021 680 2000
Hugo Nelson, Chief Executive Officer
John Snalam, Chief Financial Officer
Cape Town
30 January 2008
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 30/01/2008 07:05:02 Produced by the JSE SENS Department.
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