909 replies to this topic

[Barny]

I have my holidings of CML in my long term portfolio. But this is too good not to take advantage of in the short term, I'm in on CFD's at all the fives. 5555

[delta66]

Prospects

The strong returns posted by equity markets and exceptional investment performance generated during the period have had a highly positive

impact on revenue. Although our short-term prospects appear robust, we would like to remind investors that our business is cyclical. Our

revenues are highly geared to market returns and the alpha we deliver in the funds we manage. We are mindful that the alpha we generate

is lumpy and there will be years where the performance fees earned do not significantly contribute to revenue. It is also our expectation that the markets will deliver lower returns in the future.



As always, we will remain unwavering in our pursuit of long-term value through the cycle and in serving our clients in what is likely
to be a more difficult market environment.

 

perhaps the above created some negative sentiment..other than that i cant understand the drop

[seesider]

4%  ok whats going on??

[gamma]

Fine, sellers please call me, I'm buying

 

Usual story..buy the rumour sell the news.

 

Watch where it will be this time next week

[orca]

It will go back up for the divi but I think it is getting sold off at a high as investors don't expect good results again. The CEO did state that in the report.

[seesider]

Well unless i'm missing something I quite like the Sens. If people want to give me some more CML at a discounted rate I will happily take them up on their offer

[delta66]

drop is on low volume, so far only R4.61M traded...could be a potential buy opp?

[orca]

Market didn't like the SENS. Down 2.4% in 1 hour.

[delta66]

Can't say I know of another company growing at this rate on a div yield of >5%

 

What a business

Absolutely Gamma....hoping to ride this one all the way to the bank

[gamma]

Can't say I know of another company growing at this rate on a div yield of >5%

 

What a business

[BBW]

Thanks for that Perreby. I eventually got the results from their website. Not too shabby! Guess it's not going to be easy getting a buy order filled this morning!?

If I may ask, what do you value SuperGroup at and how do you get there?

[Perreby]

Holy moly!! Thats a nice increase in the interim dividend

 

Based on results they one a PE of around 17.6 and gross dividend yield of well over 5.6%

 

I value the share based on today's financial results at R59.30  (Puts it on a PE of 18.1 and dividend yield of 5.7%)

[franz]

Coronation Fund Managers Limited - Reviewed Interim Results For The Six Months Ended 31 March 2013

Release Date: 14/05/2013 07:05:00 Code(s): CML
Reviewed interim results for the six months ended 31 March 2013

CORONATION FUND MANAGERS

(Incorporated in the Republic of South Africa)

Registration number: 1973/009318/06

JSE share code: CML

ISIN: ZAE000047353

("Coronation" or "the company")



Reviewed interim results for the six months ended 31 March 2013



- Assets under management of R409 billion

- Diluted headline earnings per share of 163.4 cents

- Interim dividend per share of 163 cents



Coronation Fund Managers produced an excellent set of results for the six months to 31 March 2013, underpinned by a substantial increase

in assets under management and very strong investment performance.



Assets under management increased by 21% to R409 billion (September 2012: R339 billion), driven by total net inflows of R21.9 billion

and rising global markets. Led by equity markets in the US and Japan, the MSCI World Index returned 10.7% (in US dollar terms) for the

six months to end March 2013. Following a slightly negative return in the second half of the six-month period, the MSCI Emerging Markets

Index produced 4% (in US dollar terms). The FTSE/JSE All Share Index also recorded a weaker second quarter, yet continued to reach new

highs, producing a return of 13.1% (in rand terms) for the period. Notwithstanding the favourable yield-seeking global environment, the

rand depreciated by 10.1% against the US dollar over the period to close at R9.23.

nice divi 163c

Edited by franz, 14 May 2013 - 07:23 AM.

[BBW]

Thanks. Hope Sanlam's Itrade has it out early, too.

[orca]

SENS are on Sharenet.Might be a pay thing. I get it on my brokers website. Imaraspreid.

[BBW]

Where's best to get their results earliest tomorrow?

[orca]

Don't understand any of this number stuff but will see at 07.05 in the morning. Last divi was 95cps. Hoping for R1.20 at least this time.

[gamma]

Havent looked at their financials in detail yet..

 

Still think they over priced just looking at them from face value...

 

But then again, markets have been very favourable for them.. And the increase in AUM doesn't hurt either..

 

But with earnings up say 60% to 80% as their SENS said (should make full year earnings around R2.75- R3.20 assuming constant earnings for second half)... It puts them on a PE of 18- 20

 

 

Posted a few posts back that based on this the full year earnings should be around 3.45

I think I used 70% full year HEPS increase to get there

[Perreby]

Not talking forward PE, neither am I looking at the 80% to 100% increase..

 

Im looking at this: "

 

If the effect of Secondary Tax on Companies (STC) in the prior comparative period is ignored, due to the fact that no STC was incurred in the current period as a result of the implementation of Dividends Tax, the increase is expected to be between 60% to 80% higher for the half year ended 31 March 2013 than that for the prior comparative period. "

 

And based on this part of their SENS their current PE would be between 18 and 20 if their second half earnings matches first half earnings  

[orca]

All depends on when your broker made the estimate. Before or after the last SENS. My broker has a FPE of 18 calculated in November.