ON THE UP AND UP
Results season on the JSE has so far been about disappointment, with Discovery being an exception with HEPS growth of 20% ‒ good but not great. However, what the market really enjoyed was a company that not only totally understands its market but is expanding the core offering (Vitality in particular) to other parts of the world. Adrian Gore and his team are true disruptors, a phrase that gets bandied about far too often, but they have taken a boring grudge purchase and seriously shaken things up. Vitality is at the front of this disruption and the idea of taking Vitality as a stand-alone product into the US was one of their master strokes. The stock is seldom cheap by pretty much any metric one uses ‒ but equally it seems to never disappoint.