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GRINDROD LIMITED - Trading Statement

Release Date: 10/02/2014 16:00
Code(s): GND     PDF:  
Wrap Text
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”)


                                 TRADING STATEMENT


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 earnings per share (EPS) and
headline earnings per share (HEPS) for the twelve month period ended 31 December
2013 to increase by between 35% and 45% (2012: 141,8 cents per share) and 12% and
18% (2012: 102,6 cents per share) respectively.

The increase in EPS is attributed to an increase in operating earnings and the recognition
of foreign currency translation reserves on cessation of certain offshore operations due to
restructuring. This increase is partially offset by a goodwill impairment in the agricultural
commodities business.

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 31 December 2013 on 27 February 2014 and will
be holding investor presentations in Johannesburg (27 February 2014), Cape Town
(28 February 2014) and Durban (3 March 2014).

By order of the board

10 February 2014

Sponsor: Grindrod Bank Limited

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