Discovery Posts 34% Jump in First-Half Earnings on Strong SA Growth
TLDR
- Discovery Ltd. reported on Tuesday that its first-half headline earnings increased 34%
- Growth was driven by strong growth in its South African health insurance business and Vitality division
- Discovery Bank, which reported a 42% rise in total revenues, achieved monthly operational break-even for the first time
Discovery Ltd. reported on Tuesday that its first-half headline earnings increased 34%, driven by strong growth in its South African health insurance business and Vitality division.
Normalized headline earnings rose to R4.35 billion ($234 million) for the six months through December, up from R3.26 billion ($173 million) a year earlier. Operating income climbed 27% to R7.02 billion ($1.1 billion). The company declared an interim dividend of 87 cents per share, up from 65 cents per share last year.
Discovery Bank, which reported a 42% rise in total revenues, achieved monthly operational break-even for the first time. CEO Adrian Gore said the company has now entered a new phase of scaled organic growth, focusing on Discovery South Africa and its Vitality business globally.
Daba is Africa's leading investment platform for private and public markets. Download here
Key Takeaways
Discovery’s Vitality unit, which includes Vitality UK, Vitality Life, and Vitality Global, posted a 27% operating profit growth to R1.5 billion ($237 million), with membership rising 26% to 6.2 million users. In the UK market, VitalityHealth’s operating profit increased 15% to £25.9 million ($33 million), while VitalityLife rose 8% to £14.1 million ($18 million). Vitality Network’s operating profit climbed 20% to $18.9 million ($339 million), supported by higher margins and membership growth. Discovery’s stake in Ping An Health Insurance delivered R424 million ($67 million) in after-tax operating profit, reflecting strong performance in China’s bond and equity markets. The company’s AI-driven personalization strategy and digital expansion are expected to drive future growth, with Discovery continuing to expand into global health markets through acquisitions like WellSpark in the U.S. and health-tech deployments across Asia-Pacific.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.