Discovery Group expects to report a decline in profit for the six months ended December 2019, as it continues to budget increased investment into what it calls strategic initiative.  Profits from operations for the current period is expected to decrease by between 5% and 10% to between R3.6 billion and R3.4 billion.

Discovery launched its commercial banking operation, Discovery Bank in March last year and has invested an excess of R3 billion already invested in the digital only bank offering.

Rand Swiss senior analyst Viv Govender and Just one Lap founder Simon Brown unpack the financial services groups 6-month trading update.