Discovery increases dividend by over a third after strong full year performance
Stephen Grootes talks to Group CEO Adrian Gore after Discovery posts its full year results.
Discovery Group offices in Sandton. Image: Abigail Javier, Eyewitness News
The Discovery Group has reported 'strong growth' in the financial year ended 30 June 2024.
Presenting its results on Thursday, Discovery said normalised profit from operations was up 17% to R11 604 million.
Headline earnings rose by 7% to R7 202 million, while normalised headline earnings increased 15% to R7 329 million.
The Group declared a final gross cash dividend of 152 cents per ordinary share out of income reserves, a jump of 37% from the previous period.
In South Africa, normalised profit from operations increased by 16% to R9 717 million, and core new business API was up 19%.
The company stable comprises Discovery Health, Discovery Bank, Discovery Life, Discovery Invest and Discovery Insure
Stephen Grootes interviews Group CEO Adrian Gore on The Money Show.
Gore notes that Discovery Bank passed key milestones earlier than anticipated, increasingly enabling all the South African businesses as a full-service digital bank.
"We are pleased... It has been a very important year for us."
"We're kind of entering a new phase now of our growth with a number of really big building blocks that have come through,"
Adrian Gore, Founder and Group CEO - Discovery Limited
For more detail, listen to the interview audio at the top of the article