Loading...
See More

Grindrod earnings rise 22%

Feb 27 2013 11:10 Reuters


Company Data

GRINDROD LIMITED [JSE:GND]

Last traded 0
Change -0,2
% Change 0
Cumulative volume 508052
Market cap 18.29bn

Last Updated: 19-09-2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Grindrod, Vitol deal approved

Grindrod profit takes 40% hit

Grindrod sells stake in Maputo terminal

Grindrod warns of earnings plunge

Grindrod sells 22% stake to raise cash

Grindrod, Plexus merge units

 

Johannesburg - Shares of Grindrod [JSE:GND] rose more than 2% after the shipping firm posted a 22% rise in full-year earnings, beating market expectations.

Grindrod said headline earnings per share for the 12 months to the end of December rise 22% to 121.9 cents, boosted by growth in the company's freight services and financial services divisions.

That surpassed the average estimate of 108c per share in a Thomson Reuters poll of analysts.

The group will invest in rail through increasing the locomotive manufacturing capacity and investments in rail technology and concession businesses; and partner with Vitol‚ one of the world’s larger energy trading businesses‚ in a number of Grindrod’s coal and fuel related businesses to increase access to global markets‚ the company said in a statement.

“These initiatives‚ along with a number of others‚ are positioning the group for further growth‚” it said.

The company's shares rose 2.88% to R17.49, compared with a flat JSE All Share [JSE:J203] index.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

grindrod
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

New forms of digital technology are changing the very ways in which entrepreneurs run their businesses.
 
 

6 life hacks you simply have to know

A few simple tricks can make your life so much easier!

 
 

For chic geeks...

Device lets disabled people talk through their nose
It’s THIS easy for someone to steal your ATM pin!
This is why you should install iOS 8
17 photo illusions that look so real

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...