Discovery projects strong profit growth for 2025 financial year

Discovery Limited expects a significant financial uplift for the year ended 30 June 2025, with normalised profit from operations projected to increase by 26% to 31%. Headline earnings and normalised headline earnings are also anticipated to rise by 27% to 32%. This strong performance is attributed to growth across its diversified portfolio.

Key contributors to this growth include Discovery Life with an 11% to 16% increase, Discovery Invest rising by 27% to 32%, and Discovery Insure by 225% to 230%. Discovery Bank also achieved its first profitable period in the latter half of the financial year. Vitality operations are expected to see substantial growth, with Vitality Health up 170% to 175% and VitalityLife increasing by 67% to 72%.

The company also announced an upward restatement of its prior year's earnings to 30 June 2024 by 2.5%, following the adoption of IFRS 17. Basic earnings per share are forecasted to increase by 23% to 28%, reaching between 1365.7 cents and 1421.2 cents.