Growth in ports sends Grindrod shares up
IOL Business/ Bloomberg - Mar 11th 2013, 08:19
Grindrod shares rose to their highest level in more than four years yesterday as investors bet on earnings growth driven by diversification into ports and terminals.
The shipping company’s stock advanced for the ninth time in 10 days, gaining 3.9 percent to close at R19.50. The shares have gained 23 percent this year.
“Investors are probably betting that the operating changes over recent years and their investment in non-shipping infrastructure, which includes, ports, terminals and rail concessions, will generate higher returns,” said Paul Trilivas, an analyst at Value-Kwik. – Bloomberg
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