Discovery earnings to rise

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Headline earnings a share at Discovery Holdings would be 15 percent to 25 percent higher in the six months to December last year than a year earlier, the financial services group advised shareholders yesterday. In the previous interim period the group, which houses Discovery Health, reported diluted headline earnings a share of R18.54, which was a 62 percent increase. Normalised headline earnings a share would also be between 15 percent and 25 percent higher, the group said, depicting a similar growth trend as in 2011 when the figure grew 20 percent. Normalised headline earnings exclude financial effects of the acquisition of Standard Life Healthcare and do not account for the non-controlling interest financial liability. Discovery also indicated that its attributable earnings a share would rise by 10 percent to 20 percent from those reported in the previous comparable period. This is an upbeat change as earnings a share attributable to equity holders lost 23 percent a year earlier. The interim results are due next week. Discovery rose 0.26 percent to close trade at R64.41 on the JSE yesterday. – Londiwe Buthelezi

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