Discovery reports 11% jump in HY HEPS

Discovery, a financial services group, has seen its shares fluctuate between gains and losses as investors digested its first-half performance. The company reported a notable 28 per cent increase in new business income, contributing to a rise in group earnings. Despite hitting a 52-week low earlier in the week post a voluntary trading update release, Discovery has now declared an interim dividend of 65c per share after refraining from doing so last year. In an exclusive interview with CNBC Africa, Discovery CEO, Adrian Gore shared insights on the company's performance and future prospects. Reflecting on the past six months, Gore highlighted significant growth across the group, especially in the banking sector and global businesses like Ping An Health and Bataji Network. He emphasized the importance of innovative strategies in navigating through complex environments, expressing confidence in the company's ability to adapt and thrive. When questioned about potential factors impacting the second half of the fiscal year, including geopolitical uncertainties and economic conditions, Gore remained optimistic. He pointed out that challenges such as geopolitical tensions and economic cycles have historically presented opportunities for Discovery. The CEO highlighted trends in technology and healthcare that are reshaping the industry, underscoring the company's position to leverage these changes effectively. With regards to the contentious National Health Insurance (NHI) in South Africa, Gore acknowledged the importance of universal health coverage while advocating for collaboration between the private sector and the government. He stressed the need for constructive dialogue and changes to make the NHI more viable and inclusive. Turning the spotlight on Discovery's banking division, Gore revealed that the company is on track to surpass its targets and achieve profitability sooner than expected. He lauded the success of Discovery Bank, attributing its performance to a combination of quality services and digital innovation. Looking ahead, Gore expressed confidence in the bank's growth trajectory and upcoming product launches. As Discovery continues to navigate challenges and capitalize on opportunities, the company is poised for a promising future in the financial services landscape.