Grindrod Limited reported consolidated audited earnings results for the full year ended December 31, 2012. For the year, earnings before interest, taxation, depreciation and amortisation were ZAR 953,825,000 against ZAR 1,005,537,000 a year ago. Operating profit before interest and taxation was ZAR 541,395,000 against ZAR 642,558,000 a year ago. Profit before share of associate and joint venture companies' profit was ZAR 720,627,000 against ZAR 653,772,000 a year ago. Profit before taxation was ZAR 1,070,041,000 against ZAR 772,087,000 a year ago. Profit for the year attributable to ordinary shareholders was ZAR 853,266,000 or ZAR 144.0 per diluted share against ZAR 530,905,000 or ZAR 110.8 per diluted share a year ago. Net cash flows generated from utilised in operating activities was ZAR 1,527,091,000 against net cash flows utilised in operating activities of ZAR 1,002,676,000 a year ago. Capital expenditure and investments amounted to ZAR 1,305 million against ZAR 1,166 million a year ago. The company announced that gross final dividend of 379.0 cents per cumulative, non-redeemable, non-participating and non-convertible preference share has been declared for the year ended December 31, 2012, payable to preference shareholders in accordance with the timetable. In terms of the dividend tax effective is April 1, 2012. The company also announced that a gross final dividend of 15.4 cents per ordinary share has been declared for the year ended December 31, 2012. The company paid gross final dividend of 12.0 cents per share for the year 2011. In terms of the dividend tax effective April 1, 2012.

Grindrod Limited provided earnings guidance for the twelve months ended December 31, 2012. Shareholders are advised that the company expects its earnings per share and headline earnings per share for the twelve month period ended December 31, 2012 to increase by between 25% and 35% (2011: 111.0 cents per share) and 15% and 25% (2011: 99.6 cents per share) respectively.

Grindrod Limited, 2012 Earnings Call, Feb 27, 2013