Discovery reports 94% drop in full-year profit

South African insurer Discovery said on Wednesday its full-year profit fell by 94%, around the middle of its forecast range, due to the impact of the coronavirus crisis and interest rate changes in its key markets.

Headline earnings per share – the main profit measure in South Africa – for the year to June 30 fell to 45 cents ($0.0274) from 789 cents a year earlier.

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