Grindrod shares soar on strong earnings report

Shares of Grindrod soared by 6% following a strong earnings report that showed headline earnings from continuing operations rising to 95.3 cents from 76 cents, marking a 26% increase. CNBC Africa's interview with CEO Andrew Waller shed light on the key elements contributing to the company's success. Waller emphasized the importance of focusing on improving results within their businesses, particularly in the global freight trade sector where they play a vital role in facilitating the movement of commodities from Africa to key markets such as China and the US. The company has been actively investing in infrastructure, specifically in the Maputo port, to enhance logistics operations and drive growth. Additionally, Grindrod's financial services business has shown steady growth, with a focus on SMEs and plans to explore new opportunities in the sector. Despite challenges such as the trade war and fluctuations in commodity prices, Grindrod remains resilient and committed to optimizing their logistics chain to ensure the successful export of Africa's products at competitive prices.