Discovery is held in the BizNews share portfolio. Last week, the group reported on its results for the second half of 2020, with headline earnings per share decreasing by 10%. The share price fell a little and was trading at around R141 by the end of the week. Joining BizNews to pick up on the highlights and how Discovery has benefitted from investments in the UK and China and its shared value model is Hylton Kallner, CEO of Discovery Bank and chair of the Discovery South Africa Exco. – Jackie Cameron
Hylton Kallner on Discovery results:
I think the results reflect an incredibly robust operating performance across the group, with normalised operating profit up 19% to just over R4.5bn. I think, from our perspective, that’s really pleasing for a six month period, through the Covid pandemic – particularly compared to a six month period, which was prior to Covid. So a very robust operating performance. The model itself – at a group level – is performing well.