Staff Writer
Grindrod Limited, which also has operations at Walvis Bay, expects earnings for the six months ended 30 June 2026 to decline by between 57.5% and 60.9% compared with the same period last year, largely due to once-off gains recorded in the prior period.
In a trading statement issued in terms of the JSE Listings Requirements, the logistics and freight company said earnings are expected to range between R573.3 million and R623.3 million, compared with R1.47 billion reported for the comparative period.
Earnings per share (EPS) is expected to range between 85.9 cents and 93.4 cents, down from 219.8 cents a year earlier.
Grindrod said the decline primarily reflects once-off net profits of R902.8 million recorded in the prior period.
These gains related mainly to the release of foreign currency translation reserves following the acquisition of the remaining 35% interest in the Matola terminal joint venture and the company’s exit from a marine fuel trading joint venture.
Excluding these once-off effects, the company’s headline earnings are expected to show a more limited change.
Headline earnings for the six months are expected to range between R567.6 million and R617.6 million, compared with R592.2 million in the comparative period.
Headline earnings per share (HEPS) is expected to range between 85.0 cents and 92.5 cents, compared with 88.7 cents previously. This represents a possible decline of 4.2% or an increase of up to 4.3%.
Grindrod said the financial information contained in the trading statement has not been reviewed or reported on by the company’s external auditors.
