{"id":195714,"date":"2017-08-31T10:45:44","date_gmt":"2017-08-31T08:45:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=195714"},"modified":"2017-08-31T11:01:45","modified_gmt":"2017-08-31T09:01:45","slug":"discovery-sees-improved-earnings-ahead-of-banking-launch","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/195714\/discovery-sees-improved-earnings-ahead-of-banking-launch\/","title":{"rendered":"Discovery sees improved earnings ahead of banking launch"},"content":{"rendered":"<p><span class=\"monosp1\">Listed financial services firm Discovery has advised that it expects an increase in headline earnings for the year ended June 2017.<br \/>\n<\/span><\/p>\n<p>The company said on Thursday (31 August 2017) that it expects headline earnings per share to increase in the range of 18% to 22%, to between 674 cents and 697 cents from 571.1 cents in the prior year.<\/p>\n<p>Earnings per share is expected to increase in the range of 18% to 22%, to between 676 cents and 699 cents over the prior year.<\/p>\n<p>Normalised profit from operations is expected to increase by between 8% and 12% to between R6.9 billion and R7.2 billion (2016: R6.4 billion).<\/p>\n<p>Normalised headline earnings per share is expected to increase in the range of 5% to 8%, to between 710 cents and 730 cents, from 676.3 cents in 2016.<\/p>\n<p>Discovery pointed out that the reason for the difference in the growth rate between HEPS and normalised HEPS is largely as a result of non-recurring rebranding and business acquisition costs in the UK included in headline earnings in the prior year, which have reduced in the current year.<\/p>\n<p>Shares in Discovery traded at R<span class=\"_Rnb fmob_pr fac-l\" data-symbol=\"DSY\" data-tmid=\"\/m\/0ckw_bp\" data-value=\"14884.00\">148.84, on the JSE on Thursday morning, up from R120 a year ago, and giving the group a market cap of R93.15 billion.<\/span><\/p>\n<p><a href=\"http:\/\/www.fin24.com\/Companies\/Health\/discovery-performs-strongly-despite-uk-headwinds-20170223\" target=\"_blank\" rel=\"noopener\"><strong>Discovery received authorisation<\/strong><\/a> from the Registrar of Banks to establish banking operations in South Africa, and is on track to launch its banking products next year.<\/p>\n<p>The insurer is expected to publish its results on 18 September 2017.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/banking\/161643\/discovery-given-go-ahead-to-open-local-bank-in-2018\/\" target=\"_blank\" rel=\"noopener\">Discovery given go ahead to open local bank in 2018<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discovery has advised that it expects an increase in headline earnings for the year ended June 2017.<\/p>\n","protected":false},"author":10,"featured_media":105381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[4883],"class_list":["post-195714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-discovery"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=195714"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195714\/revisions"}],"predecessor-version":[{"id":195724,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/195714\/revisions\/195724"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/105381"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=195714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=195714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=195714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}