June 15, 2020 / 5:26 PM / a month ago

BRIEF-Discovery Sees FY Normalised Headline Earnings To Be Between 20% And 30% Lower

June 15 (Reuters) - Discovery Ltd:

* FY NORMALISED HEADLINE EARNINGS IS EXPECTED TO BE BETWEEN 20% AND 30% LOWER THAN PRIOR YEAR.

* APPROXIMATELY R3.3 BILLION WILL BE PROVIDED FOR POTENTIAL FUTURE COVID-19 IMPACTS.

* FY HEADLINE EARNINGS WILL BE AFFECTED BY SIGNIFICANT RISE IN INTEREST RATES IN SOUTH AFRICA DUE TO COVID-19

* NEW BUSINESS INCREASED 4% FOR ELEVEN MONTHS ENDED 31 MAY 2020 COMPARED TO PRIOR CORRESPONDING PERIOD

* SEES FY NORMALISED PROFIT FROM OPERATIONS BEFORE POTENTIAL FUTURE COVID-19 IMPACTS TO BE BETWEEN 5%-15% UP INCLUDING DISCOVERY BANK RESULTS

* CAPITAL RATIOS ARE EXPECTED TO REMAIN BROADLY IN SAME RANGE AS DECEMBER LEVELS, AND ABOVE TARGETED LEVELS

* CASH BUFFER IS EXPECTED TO REMAIN WITHIN OR ABOVE TARGET RANGE, WITH MINIMAL RECOURSE TO ADDITIONAL DEBT

* WILL NOT BE RECOMMENDING PAYMENT OF ORDINARY DIVIDENDS Source text for Eikon: Further company coverage:

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