31 December   31 December
  Audited   Audited
  2009 Chang 2008
  R000 % R000
Revenue 27 692 041 (18) 33 736 910
Trading profit 1 434 922 (53) 3 026 017
Depreciation and amortisation (292 400)   (240 942)
Operating profit before interest and taxation 1 142 522 (59) 2 785 075
Non-trading items 13 881   (163 567)
Interest received 161 328   138 711
Interest paid (252 695)   (314 071)
Profit before share of associatesí profit 1 065 036   2 446 148
Share of associate companiesí profit before taxation 76 465   66 076
Profit before taxation 1 141 501   2 512 224
Taxation (188 075)   (243 030)
Profit for the year 953 426   2 269 194
Attributable to      
  Ordinary shareholders 872 763 (60) 2 157 890
  Preference shareholders 69 023   90 892
Grindrod Limited shareholders 941 786   2 248 782
  Minority interest 11 640   20 412
  953 426   2 269 194
Exchange rates (R/US$)      
  Opening exchange rate   9,45   6,89
  Closing exchange rate   7,37   9,45
  Average exchange rate   8,46   8,27
RECONCILIATION OF HEADLINE EARNINGS      
Profit attributable to ordinary shareholders 872 763   2 157 890
Adjusted for: (15 445)   163 567
  IAS 38 Impairment of Goodwill 990   12 987
  IAS 38 (Reversal)/Impairment of Intangible Asset in Respect of Charters (46 886)   62 660
  IFRS 3 Negative Goodwill Released (156)   (216)
  IAS 16 Impairment of Ships, Plant and Equipment 36 731   93 772
  IFRS 3 Net Profit on Disposal of Investments (2 081)   (43 179)
  IAS 16 Net (Profit)/Loss on Sale of Plant and Equipment (1 674)   1 386
  IAS 21 FCTR Adjustment on Disposal of Business (805)   35 912
Total tax effects of adjustments (1 564)   245
       
Headline earnings 857 318   2 321 457
ORDINARY SHARE PERFORMANCE      
Number of shares in issue less treasury shares (000ís) 454 203   450 252
Weighted average number of shares on which earnings per share are based (000ís) 452 278   453 640
Diluted weighted average number of shares on which diluted earnings per share are based (000ís) 454 436   459 930
Earnings per share (cents)      
  Basic   193,0 (59) 475,7
  Diluted   192,1 (59) 469,2
Headline earnings per share (cents)      
  Basic   189,6 (63) 511,7
  Diluted   188,7 (63) 504,7
Dividends per share (cents) 60,0 (56) 136,0
  Interim   30,0   68,0
  Final   30,0   68,0
Dividend cover (times) 3,2   3,5