Discovery Limited Financial Results Performance – Group CEO

Insurance Group Discovery Limited reported a 10% drop in interim profit for the six months ended 31 December. It fell to R1.875 billion from R2.078 billion for the previous half-year period.

Discovery founder and group CEO Adrian Gore says, their group earnings were negatively impacted by exchange rate volatility but Covid-19 provisions resilient. 

Exchange rate volatility caused normalised headline earnings to decrease 1% to R2,284 million says Group CEO Adrian Gore.

“From a business perspective we actually had a very good six months. The operating profit of the Group is up around 19%; our new businesses are coming through strongly; our Covid provisions have proved to be prudent” – Discovery founder and CEO

adrian-gore-discovery | Money 101
Discovery founder and group CEO Adrian Gore

“I think most businesses that survive and thrive will be much stronger coming out of the pandemic,” Adrian Gore, Founder and Group CEO – Discovery Limited

Gore says the trends spawned by the pandemic are a crucial factor.

“The focus on health and resilience, the move to digital, the importance of purpose in business – all of this very much fits with our business model.”

Adrian was speaking to Arabile Gumede on The Money Show, Talk Radio 702

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