Discovery leading the way

Johannesburg - South African health insurer Discovery Holdings Limited [JSE:DSY] expects to report up to 55% rise in first-half profit, sending its shares more than nearly 4% higher.

Discovery, which owns the country's largest medical insurance, said on Tuesday it sees headline earnings per share increasing between 45%-55% in six months to end-December.

The company said earnings per share - which normally include one-off, non-trading and financial items - is expected to be between 60% and 70% higher.

Discovery has outperformed its peers, which have been hit by the global slide in equity markets and lower consumer demand as South Africa grapples with slower economic growth.

- Reuters