Grindrod records R1.1bn loss, ready to develop Coega liquid-bulk terminal

A depressed commodities market continued to take its toll on shipping and logistics group Grindrod in the six months ended June 30. Grindrod on Thursday reported a drop in revenue to R11-billion in its management income statement – which included the company’s share in joint ventures – compared with R14.4-billion in the comparable period last year. The loss attributable to ordinary shareholders was R1.1-billion, compared with a profit of R303-million. Speaking in Johannesburg, Grindrod CEO Alan Olivier described the six months under review as “extremely difficult”.