Sharenet Sites 
Sharenet Sites
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
Stronger mineral commodity exports have impacted positively on the EBITDA (earnings before
interest, tax, depreciation and amortization) of R640.4 million inclusive of joint ventures and
excluding rail assembly businesses, compared to R246.4 million of the prior year comparative
period. The Ports and Terminals division recorded satisfactory profits and the Shipping division
recovered to above cash breakeven following a strengthening of dry bulk shipping rates. Grindrod
Bank continued to grow its profitability. The closure of the Rail assembly businesses held for sale
resulted in losses and impairments of R255 million and consequently a headline loss for the six
month ended 30 June 2017.
Shareholders are advised that Grindrod expects the loss for the six months that ended 30 June 2017
to be between R97 million and R77 million, which is an improvement of between 91% and 93%,
compared to the prior year comparative period loss of R1 120 million. Headline loss for the period is
expected to be between R139 million and R119 million, which is an improvement of between 64%
and 69% compared to the prior year comparative period headline loss of R381 million.
As a consequence of the above, shareholders are advised that a loss per share for the six months
that ended 30 June 2017 is expected to be between 12.9 cents per share and 10.3 cents per share
(which is an improvement of between 91% and 93% to the prior year comparative period, loss of
149.2 cents per share) and a headline loss between 18.5 cents per share and 15.9 cents per share
(which is an improvement of between 64% and 69% to the prior year comparative period,, headline
loss of 50.8 cents per share).
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 Wednesday, 23 August 2017 and will be
holding an investor presentation in Johannesburg on that day.
By order of the board
15 August 2017
Sponsor: Grindrod Bank Limited
Date: 15/08/2017 11:00:00 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.
