Discovery sees healthy rise in profit

Financial services firm Discovery is expecting its normalised headline earnings for its June year-end to increase by between 18% and 23%, enhanced by lower finance costs, in line with the group’s planned reduction in debt.

It expects its headline earnings to rise between 31% and 36% after a required accounting adjustment, as it ended its lease for its Sandton head office when it bought the building from landlords Growthpoint and Zenprop in February 2026.

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The JSE requires firms to issue an announcement if profit will be at least 20% higher or lower than the previous financial period.

Normalised headline earnings per share (Heps) are expected to increase by between 18% and 23% to between 1 735.1 cents and 1 808.6 cents.
Normalised profit from operations is expected to increase by between 15% and 20%.
Discovery South Africa, which includes the country’s largest medical aid administrator Discovery Health, Discovery Bank, and life insurance business Discovery Life, is expected to grow profit by 13-18%
The Vitality division, a science-based behaviour-change programme that rewards members for living healthier lives, is expected to grow profit by between 18% and 23%.

Discovery intends to release its full-year results on 3 September.

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