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Fin24.com | Discovery posts strong rise in earnings, profit

Discovery [JSE:DSY] on Tuesday announced a 17% rise in normalised profits and a 16% jump in earnings per share for the year ended June 30, 2018.

Normalised headline earnings per share rose by 16% from 722.2 cents in 2017 to 837.4c in 2018 the financial services group announced in its audited results.  

Normalised profit from operations, meanwhile, was up 17% to R8.26bn in 2018, from R7.04bn in 2018. 

"Every business grew operating profit at least in line with expectation, and with the exception of VitalityLife, all established businesses generated cash, positive experience variances, and returns on capital at or near the Group target," the group said in a statement on Tuesday morning.

Discovery also announced a final gross cash dividend of 114 cents per ordinary share. Holders of the group's less common B preference shares will receive cash dividends of 501.9 cents per share. 

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