Discovery Ltd (JSE:DSY)
R 196.68 2.58 (1.33%) Market Cap: 130.79 Bil Enterprise Value: 134.69 Bil PE Ratio: 18.27 PB Ratio: 2.29 GF Score: 63/100
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Half Year 2021 Discovery Ltd Earnings Call Transcript

Feb 25, 2021 / 08:00AM GMT
Release Date Price: R141 (-3.37%)
Adrian Gore
Discovery Limited - Founder, Group Chief Executive & Executive Director

Good morning, everybody. Welcome to our presentation this morning. And thank you very much for the time. It's always an honor and a pleasure to present our results to you. We are reporting for the 6 months our interim results for period ended December 31, 2020. You will have seen -- I assume you will have seen the presentation on our results. It has been a period, I think, a very strong, robust performance. We grew by 19% operating profit. Our core new business grew by 3%. Our COVID provisions remained around ZAR 3.4 billion, unchanged. The complexion of them has changed. I'll take you through that. Headline earnings were down 10%. I'll explain that later in the presentation. And normalized headline earnings were down by 1%.

There are 4 themes to the presentation. I'm going to take you through them and essentially forms an agenda for the talk this morning. Firstly, I'd like to demonstrate the robust operating performance and the adequacy and prudence of the COVID provisions. Secondly, I want to show you the

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