June 15, 2020 / 7:39 AM / 19 days ago

S.African insurer Discovery warns of up to 90% decline in profits

JOHANNESBURG, June 15 (Reuters) - South Africa’s Discovery said on Monday its full-year profits could fall by up to 90%, accounting for an estimated 3.3 billion rand ($191.03 million) provision for the potential impact of the coronavirus outbreak and the impact of interest rates.

The insurer said its headline earnings per share - the main profit measure in South Africa - for the year to June 30 were currently expected to be between 70% and 90% lower, though it warned the final outcome is subject to a high degree of volatility. ($1 = 17.2744 rand) (Reporting by Emma Rumney; Editing by Promit Mukherjee)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below