All data is delayed
See More

Grindrod earnings rise 22%

Feb 27 2013 11:10

Company Data


Last traded 14
Change 0
% Change -2
Cumulative volume 727606
Market cap 0

Last Updated: 30-11-2015 at 05:00. 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.




Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote