GNDE - GRINDROD LIMITED - Trading Statement

22/08/2013 17:30:00

GND GNDP 201308220047A
Trading Statement

Grindrod Limited
(Incorporated in the Republic of South Africa)
(Registration number 1966/009846/06)
Share code: GND & GNDP
ISIN: ZAE000072328 & ZAE 000071106
(“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 more than 20% from the previous corresponding period.

Shareholders are advised that Grindrod expects its headline earnings per share (HEPS), for
the six month period ended 30 June 2013, to increase by between 25% to 35%
(30 June 2012 HEPS: 58.9 cents restated) and earnings per share (EPS) for the six month
period ended 30 June 2013, to decrease by between 5% and 15% (30 June 2012 EPS:
103,1 cents per share).

The new Headline Earnings Circular 2/2013 was issued on 15 August 2013. This required
the restatement of the 30 June 2012 HEPS to exclude the compensation for impairment of
Ocean Africa Container Lines (Pty) Ltd. This restatement resulted in the HEPS increasing
over the prescribed 20% level, requiring disclosure. The decrease in EPS is mainly due to
the inclusion of the profit on the sale of 35% of the Maputo coal terminal in the comparative
June 2012 results.

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 for the six months ended 30 June 2013 on
2 September 2013.

By order of the board

22 August 2013

Sponsor: Grindrod Bank Limited

Date: 22/08/2013 05:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

Back to securities exchange news feed