Insurance group Discovery is bracing for more tough times ahead, as its share price fell by more than 3 per cent today. The group reported a 94 per cent drop in earnings, while also revealing a more than R2 billion spend on new business initiatives. Due to uncertainty in the market, no dividend has been declared. Discovery CEO, Adrian Gore joins CNBC Africa for more.
Meanwhile Discovery says it will not appeal the High court ruling but remains still holds the view that Liberty’s use of its IP without its consent or payment, is morally questionable.
South Africa’s High Court has dismissed a case from insurer Discovery against rival Liberty, who it had argued was infringing on their trademarks and competing unlawfully, Liberty said on Thursday.
South African insurance company Discovery and mobile operator Vodacom are teaming up to offer a free, online doctor consultation service to all South Africans with coronavirus-related concerns.
Health insurer Discovery has cited its preparedness to handle the Coronavirus pandemic by equipping its members with benefits to navigate them through the outbreak and medical advice that all South Africans should take during the course of the COVID-19 upsurge Joining CNBC Africa for more is Dr Ryan Noach the CEO of Discovery Health.
Discovery CEO, Adrian Gore joins CNBC Africa to talk about Discovery Bank’s prospects in South Africa's competitive digital banking era.
Discovery reported an 18 per cent drop in headline earnings per share to 347.4 cents a share, dented by the costs of starting a new bank and a large claim. It described the first half as a period of “exceptional growth”, with a “temporary” decline in profits. A fifth of the earnings were reinvested into new growth initiatives. Discovery CEO, Adrian Gore joins CNBC Africa for more.
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