Grindrod anticipates decline in earnings
FMCG SUPPLIER NEWS
Business Live - Jun 5th 2012, 08:30
Shipping and freight services group Grindrod said on Wednesday that it expected its headline earnings per share to decline between 10% and 20% in the six months ended June 2012 compared with the same period a year earlier.
The earnings take into account the R415m profit on the disposal of 35% of Grindrod's investment in the Maputo Coal Terminal.
The results also include the specific issue of 133 million ordinary shares in October last year, which resulted in a dilutionary effect on earnings and headline earnings per share in the current period.
The company said the impairment of ship values by R131m due to the continued weakness in shipping markets would also be taken into consideration.
The interim results are expected on August 22.
Related News
Zimbabwe: Lifestyle Holdings introduce TN Virtual Mart
14/05/2013 - 08:46
Diversified company Lifestyle Holdings has introduced a TN Virtual Mart — where it will deliver groceries to its clientele’s doorstep, as competition in the country’s retail sector intensifies.
Namibia: Give poultry industry protection
13/05/2013 - 11:18
A Namibia Trade Forum official has defended proposed government plans to grant interim protection to the local broiler industry against cheap imports.
Chinese manufacturing slows in April
26/04/2013 - 10:06
Beijing - Manufacturing activity slowed in China in April as exports were hit by sluggish overseas demand, HSBC said on Tuesday, fuelling concerns about the strength of the world's second-largest economy.
Namibian pharmaceutical manufacturer, Fabupharm, grows 100% in one year
23/04/2013 - 09:51
Fabupharm Products, a wholly-owned Namibian pharmaceutical manufacturer, has doubled in size over the past year. Subsequent to upgrading its manufacturing facility to comply with international standards, Fabupharm announced recently it has received an Official Manufacturing GMP (Good Manufacturing Practice) License from the Namibian Medicines Regulatory Council (NMRC). This means that Fabupharm is now licensed to manufacture scheduled medicinal products.
Swaziland: sugar mill project to rejuvenate vital export crop
11/04/2013 - 10:18
Nsoko Msele sugar mill project to rejuvenate Swaziland’s vital export crop
A fourth sugar mill announced for Swaziland, the Nsoko Msele integrated sugar milling project, would significantly increase production of refined sugar, the country’s main source of export revenue, the project’s shareholders said this week.
