Grindrod told shareholders to expect a full-year 2016 loss, but said results through the second half of last year showed some improvement thanks to the recovery in dry bulk shipping rates.
The South African shipowner expects to report a headline loss between ZAR 455m and ZAR 465m ($34.7m and $35.5m) for the year. It reported a first half headline loss of ZAR 381m.
