South Africa-based Grindrod, whose ships haul raw materials such as iron ore, cement and fertilizer, said headline earnings per share totalled 168 cents in the year to end-December from 190 cents a year earlier.
Headline EPS is the main profit measure in South Africa and strips out certain one-time items.
Grindrod, which is diversifying away from shipping to freight and logistics, has suffered in recent years as the global economic downturn eroded appetite for raw materials and put pressure on freight rates.
The Durban-based company, whose revenue rose 9 percent to 30.2 billion rand ($4.24 billion), said it expected its freight and logistics unit to benefit from higher demand for commodities, while its shipping unit would be hit by an oversupply of ships. (Reuters)
