GNDE - GRINDROD LIMITED - Trading Statement

14/03/2018 17:00:00

GND GNDP 201803140048A
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”)


Shareholders are referred to the trading statement issued on SENS on Tuesday, 27 February 2018
in which shareholders were advised that the headline earnings from continuing operations, was
expected to be between R 566 million and R 576 million.

Shareholders are advised that improved demand and strong performance by the continuing
businesses, which comprise Freight Services and Financial Services businesses, resulted in
headline earnings of R 571 million for the year ended 31 December 2017, a marked improvement
on the comparable figure of R 209 million in 2016.

Grindrod continues to have a strong balance sheet with nil gearing (2016: 2%), and is therefore well
positioned as global markets continue to show signs of improvement.

Shareholders are further advised that the loss for the year ended 31 December 2017 will be R 583
million (an improvement of 69% compared to the R 1 908 million in 2016) and headline loss will be
R 356 million (an improvement of 23% compared to the R 460 million in 2016).

Included in the headline loss of R 356 million is an adjustment relating to the Rail assembly business
impairments, which was recorded in the 2016 results.

The information contained in this trading statement has not been reviewed nor reported on by the
company's external auditors.

Grindrod will release its final results to shareholders on or about Friday, 23rd March 2018 and will be
holding an investor presentation in Johannesburg on Monday, the 26th March 2018.

By order of the board
14 March 2018
Sponsor: Grindrod Bank Limited

Date: 14/03/2018 05:00:00 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