S.African insurer Discovery warns of up to 15% fall in half-year profit

  • Reuters
  • Stock Market News
S.African insurer Discovery warns of up to 15% fall in half-year profit
Credit: © Reuters.

JOHANNESBURG, Feb 23 (Reuters) - South African insurer Discovery (JO: DSBPp ) DSYJ.J said on Tuesday its profit for the six months to Dec. 31 were likely to fall by between 5% and 15%, mainly due to a negative impact from interest rate changes and foreign currency losses.

The insurer said its headline earnings per share - the main profit measure in South Africa - would be between 296.1 cents($0.2022) and 264.9 cents, compared to 311.7 cents reported a year earlier. ($1 = 14.6443 rand )

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