• Wrap-up: Davos insights

    Alec Hogg speaks about the top three issues at this year's World Economic Forum.

  • Netflix and SA video

    Much of Netflix's potential impact on SA has already been made, says Arthur Goldstuck.

  • Fool's paradise

    Greece's new leader is in the same position as the ANC in 1994, says Leopold Scholtz.

Loading...
See More

Acquisition hits Discovery earnings

Feb 22 2011 11:00 Reuters

Company Data

DISCOVERY LIMITED [JSE:DSY]

Last traded 0
Change -0,09
% Change 0
Cumulative volume 269051
Market cap 68.96bn

Last Updated: 29-01-2015 at 03:53. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Healthy earnings for Discovery

Discovery announces 2011 fee increases

Discovery 'too hot to handle'

Discovery looks to China, US

Discovery growth persists

Discovery reshuffles board

 
Johannesburg - Discovery Holdings [JSE:DSY], South Africa's largest health insurer, posted a 16% drop in first-half earnings on Tuesday, hit by the cost of acquisitions, and said it would launch a US venture with Humana.

Discovery, which last year bought a unit of Britain's Standard Life, said diluted headline earnings per share totalled 114.6 cents in the six months to end-December, compared with 135.9c a year earlier.

Discovery said this month earnings were likely to fall as much as 20%, citing the cost of the R1.6bn acquisition of UK-based Standard Life Healthcare in May.

Excluding the impact of such transactions, Discovery said earnings rose by a quarter.

Revenue from insurance premiums rose 83% to nearly R6bn.

The company said it would launch a joint venture with US insurer Humana Inc to provide a wellness programme in the world's biggest economy.

Discovery will own a quarter of the partnership, while Humana will take the same size stake in a Discovery US unit.

Discovery, which also owns a stake in China's Ping An Insurance, has been looking for opportunities in overseas markets as its once-rapid growth in South Africa slows.

CEO Adrian Gore told Reuters last year the company could eventually target India as it looks for more opportunities in Asia.
 
discovery holdings

NEXT ON FIN24X

 

Latest Articles

8 simple ways to earn extra money Read More...
6 motivational tips to help you save this year Read More...
Invest for Income Read More...
15 Investment Tips for 2015 Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...