Johannesburg - Health insurer Discovery Holdings [JSE:DSY]
on Thursday reported a 32% increase in its operating profit to R2.838bn for the
year ended June 30 2011.
Normalised headline earnings per share increased by 31% to
365.8 cents, with the group's embedded value per share growing 19% to R48.45.
Gross inflows under management grew by 21% to over R50bn.
"Discovery performed strongly during the past financial
year," said Discovery CEO Adrian Gore.
"Despite economic uncertainty, considerable policy debates and volatile
markets both locally and internationally, the year under review was a seminal
one for Discovery - it achieved considerable success in the context of growth,
innovation and quality across virtually all areas of the business," said Gore.
"Not only did Discovery's businesses perform better
than expected, but it also made significant progress in furthering the
development of the Vitality framework and its alternate applications locally,
and in translating Discovery's business model into a 'repeatable' construct
that underpins its expansion into new markets."