GROUP:

  • Attributable income down 36% to R277,4 million
  • Headline earnings per share of 55,7 cents
  • Interim ordinary dividend of 17,5 cents per share

SHIPPING:

  • Results materially impacted by continuing poor shipping markets
  • Average earnings per day outperformed average spot market rates for the period across all sectors
  • Earnings were also affected by piracy activity

FREIGHT SERVICES:

  • Earnings up 49% from H1 2010
  • Port of Maputo volumes up 30% on H1 2010
  • Terminals throughput up 22% on H1 2010

TRADING:

  • Improved operating margin per ton
  • Volumes at similar levels to H1 2010

FINANCIAL SERVICES:

  • Grindrod Asset Management achieved R5 billion under management
  • Treasury deposits at record levels