Discovery earnings growth strengthened in its latest financial year as investments in banking, health and international operations increasingly translated into profit and cash generation. The group reported a 17% increase in normalised operating profit to R17.75 billion. Cash conversion reached 85%, while the full-year dividend increased 33% to 384 cents per share. Discovery’s share price has also reflected growing investor…
Tag: Discovery
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Discovery Group Results: Profit Climbs 17% to R17.75bn
Discovery Group results for the year to 30 June 2026 show normalised profit from operations up 17% to R17.75bn. This growth was driven by its South African businesses and the international Vitality operations. The group also lifted its final ordinary dividend 36% to 273 cents per share. Headline earnings rose 34% and normalised headline earnings 21%. Meanwhile, normalised return on…
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Discovery’s headline earnings set to rise
Discovery expects its headline earnings to increase by 31% to 36% for the year to end-June, driven by growth in its South African operations and Vitality business. The financial services group said it delivered robust results during the year. The group expects its normalised operating profit to increase by 15% to 20%. The group forecasts 13% to 18% growth for…
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Weight Management Spending Reshapes Household Budgets
South Africans are opening their wallets in pursuit of better health. But this is not only about occasional wellness treats. A new pattern is forming in everyday spending. Weight management is moving from a personal goal to a budget line item, according to new findings from Visa and Discovery Bank. The report shows that supplements and vitamins still account for…
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Momentum Bonitas Deal Lifts Market Share To 30%
The Momentum Bonitas deal is set to reshape South Africa’s tightly concentrated medical scheme administration market. This follows Momentum Health winning the tender to administer the Bonitas Medical Fund. The transfer takes effect on 1 June 2026. It is being positioned by Momentum as a springboard for further growth in a sector dominated by a handful of large players. Momentum’s…
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Discovery Vitality Results Show Surge In Global Profitability
Discovery has reported a significant boost in its latest financial period. The group’s strategy to unify its Vitality composite onto a single platform is yielding impressive returns. These Discovery Vitality results highlight a 41% increase in normalised profit for the composite. This figure reached R2.1 billion for the six months ending December. In a strategic move during 2024, the Discovery…
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Discovery’s Interim Results Highlight Strong Growth
Discovery has announced a significant surge in its financial performance for the first half of the year. The group expects headline earnings to rise by nearly a third. Discovery’s interim results follow a period of robust operational success across its various divisions. The South African-based financial services giant released a trading statement covering the six months ending 31 December. The…
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Discovery and Google partner for Personalised Healthcare
Health and life insurer Discovery has announced a global partnership with Google, harnessing artificial intelligence to transform preventative healthcare. The initiative aims to provide individuals with highly personalised recommendations to improve their health, simultaneously helping to drive down the rising cost of insurance cover. The new platform, dubbed Vitality AI, combines the insurer’s extensive behavioural change expertise with Google Cloud’s…
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Discovery Profit Surge Indicates Strong Growth Ahead
Financial services giant Discovery Group has signalled a significant increase in profits for the year to end-June. Its banking division reached a significant profitability milestone after years of investment. This achievement contributes to the Discovery Profit Surge. In a trading statement released ahead of its full-year results, the group announced it expects a robust performance across all its business units.…
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Medical Fraud: A Discussion on Race and Class
The long-awaited final report from the Section 59 inquiry has left more questions than answers regarding medical aid fraud in South Africa. The investigation, initiated by the Council for Medical Schemes (CMS) after complaints of racial bias from healthcare providers, found that while fraud detection methods were fair, black practitioners were disproportionately found guilty of fraud, waste, and abuse (FWA).…
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Dis-Chem Transforming Retail with Health Insurance
Is the South African health insurance landscape on the verge of a significant shake-up? All eyes are on pharmaceutical retail giant Dis-Chem as it rapidly evolves from a chain of pharmacies into an integrated healthcare provider. It is setting its sights on a market long dominated by financial services powerhouses such as Discovery. The move raises a pivotal question: is…
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NHI Act Court Challenges and Their Implications
The Board of Healthcare Funders is preparing to escalate its legal fight against the controversial National Health Insurance (NHI) Act. They are launching two new court challenges targeting public participation and constitutionality. The Board of Healthcare Funders (BHF) is preparing to launch two significant new legal challenges against South Africa’s contentious National Health Insurance (NHI) Act. This signals a deepening…