Covid-19 provision hammers Discovery profits
28 August 2020 - 11:26
UPDATED 30 August 2020 - 20:53
Discovery could report no growth in annual earnings after the insurer, which runs SA’s biggest health insurance business, raised its provisions by nearly half to cover losses stemming from volatile interest rates at home and in the UK and prepare for a wave of Covid-19-related claims.
The company, best known for its business model linked to a behaviour tracking programme that rewards clients for healthy lifestyles, said in a profit warning on Friday that headline earnings per share are likely to drop by between 90% and 100% in the year to the end of June...
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