GNDE - GND & GNDP - Grindrod Limited - Trading Statement

31/05/2011 17:15:04

GND & GNDP - Grindrod Limited - Trading Statement
Grindrod Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE000071106
("Grindrod" or "the Company")
In accordance with paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, a company is required to publish a trading statement as soon as it
becomes aware, with a reasonable degree of certainty, that the financial results
for the next period to be reported on are likely to vary by at least 20% from
the previous corresponding period.
Shareholders are advised that Grindrod expects its earnings per share and
headline earnings per share for the six month period ending 30 June 2011 to
decrease by between 35% and 45% compared to the corresponding period of the
previous year. This is as a result of weak shipping earnings and the stronger
Rand/USD exchange rate. The performances of the other operating divisions are
expected to be similar to the first half of 2010.
Earnings and headline earnings per share for the six month period to 30 June
2010 were 95,8 cents and 95,4 cents respectively.
Grindrod expects its earnings to improve in the second half of 2011 compared to
the first half.
The information contained in this trading statement has not been reviewed or
reported on by the company's external auditors. Grindrod will release its
interim results to 30 June 2011 on or about 18 August 2011.
By order of the board
31 May 2011
Grindrod Bank Limited
Date: 31/05/2011 17:15:04 Produced by the JSE SENS Department.
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