Discovery issues trading statement

(Shutterstock)
(Shutterstock)
Johannesburg - Shareholders of Discovery [JSE: DSY] are advised that normalised headline earnings per share are expected to be between 15% and 25% higher than that of the corresponding period.

In the current period, Discovery has continued, as in prior periods, to focus on the progression of normalised headline earnings that excludes the accounting impact of the Standard Life Healthcare acquisition, the recapture of reinsurance and the accounting for the puttable non-controlling interest financial liability.

Management is of the view that this best represents the underlying operating performance.

As a result of the accounting for the recapture of reinsurance and the increase in the fair value of puttable non-controlling interest financial liability, shareholders are advised that headline earnings per share are expected to be between 0% and 10% lower than that of the corresponding reporting period of the previous year, while earnings per share are expected to be between 0% and 10% lower than the corresponding period.

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