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Grindrod annual earnings more than double thanks to bulk commodities recovery

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Revenue from core operations, including joint ventures, rises to R5.2bn with Mozambique operations the star performers

Diversified logistics group Grindrod said profit for the year to end-December more than doubled as the global economic recovery and demand for commodities led to record volumes at its ports and terminals businesses.

Core headline earnings soared 166% from a year earlier to R886m as exports of minerals and commodities mining surged with the easing of pandemic-induced restrictions on trade, the JSE-listed company said in a statement on Thursday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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