Grindrod sees lower earnings
Freight logistics group Grindrod on Wednesday advised shareholders that its earnings per share and headline earnings per share for the six-month period to 30 June 2009 are expected to decrease by between 50% and 60%, compared with the corresponding period in 2008.
It said this was as a result of the impact of the world economic decline on group activities, substantially weaker shipping markets and the material effect of a substantially stronger rand/US dollar exchange rate.
Grindrod said headline earnings per share for the six months to 30 June 2008 were 242.8 cents.
Grindrod will release its interim results for the six months ended 30 June 2009 on or about 19 August 2009.
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