Discovery CEO Adrian Gore tries to soothe concerns over UK business
Adrian Gore expects VitalityLife to return to profit after taking a hit from an interest rate hedge
20 February 2020 - 19:46
Discovery CEO Adrian Gore has moved to ease investor concerns about its problematic VitalityLife business in the UK, saying it was receiving the necessary attention and would return to profitability in the next financial year.
The news that VitalityLife — through a trading update on Monday — would be loss-making for the interim period ending December owing to the implementation of an interest rate hedge and higher lapse rates, came as a shock to investors, who wiped off more than R8bn from the company’s value...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.