Discovery’s shares continue bumpy ride after earnings warning

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The company has set aside R3.3bn for estimated future virus-related expenses until 2022

16 June 2020 - 19:55Discovery’s share price fell on Monday after the financial services group warned of a large drop in earnings as a result of the coronavirus pandemic.

Shares in the company dropped nearly 3% to R105.43 after it announced its headline earnings per share , a widely used measure to show profits in SA, could be between 70% and 90% lower in the year to June 30.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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