Turnover for the Grindrod Group rose to R35.89-billion in 2011, up on the R29.39-bn in 2010.
But profit for the year dropped to R596.72-million compared to R845.08-m.
The group concluded a R2-bn strategic capital raising in the business year of 2011.
The headlines for the freight services division were: A 21% growth in earnings; increased coal capacity at Maputo and Richards Bay terminals; a pre-feasibility to expand Maputo Coal Terminal capacity by 20-m tonnes successfully completed; improved rail delivery to Maputo Coal Terminal and Richards Bay; locomotive manufacturing and leasing contracts secured in Sierra Leone and
Mozambique; construction license granted to co-develop a bulk liquid storage facility at Coega; and improved volumes in the logistics division.
Under shipping, the group announced that earnings remained positive despite weak shipping markets.
