Grindrod shares rise

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Grindrod_Rainbow Independent Newspapers.

Johannesburg - Shares of Grindrod rise more than 2 percent after the South African shipping firm posts a 22 percent rise in full-year earnings, beating market expectations.

Grindrod says headline earnings per share for the 12 months to the end of December rise 22 percent to 121.9 cents, boosted by growth in the company's freight services and financial services divisions.

That surpassed the average estimate of 108 cents per share in a Thomson Reuters poll of analysts.

The company's shares rise 2.88 percent to 17.49 rand, compared with a flat JSE All-Share index. - Reuters

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