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S.African insurer Discovery warns of up to 15% fall in half-year profit

02/23/2021 | 03:44am EST
The logo of South Africa's Discovery group in seen on its headquarters in Sandton

JOHANNESBURG (Reuters) - South African insurer Discovery said on Tuesday its profit for the six months to Dec. 31 were likely to fall by between 5% and 15%, mainly due to a negative impact from interest rate changes and foreign currency losses.

The insurer said its headline earnings per share - the main profit measure in South Africa - would be between 296.1 cents($0.2022) and 264.9 cents, compared to 311.7 cents reported a year earlier.

($1 = 14.6443 rand)

(Reporting by Emma Rumney, editing by Louise Heavens)


© Reuters 2021
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