South African insurer Discovery lifts FY profit by 16 pct

JOHANNESBURG, Sept 4 – South African health and life insurance group Discovery Ltd reported a 16 percent increase in full-year earnings on Tuesday, supported by growth in all its businesses.

Undiluted normalised headline earnings per share, the widely watched profit gauge in South Africa that strips out certain one-off items, for the year ended June rose to 837.4 cents from 722.2 cents in the prior year.

Normalised operating profit rose 17 percent to 8.2 billion rand ($548.47 million). ($1 = 14.9507 rand) (Reporting by Nqobile Dludla, editing by Louise Heavens)

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