Griffin Shipping Holdings

South Africa’s Griffin Shipping Holdings has boosted half-year dollar earnings by 46% with net profits for the period to June 30 up to $4.73 million from $3.23 million for the corresponding period in 1995. Managing director Mr. Mike Meehan also reported that operating profit for the same period amounted to $8.1 million – an increase of 57% on the previous year.

The weakness of the Rand saw a disproportionate surge in results – by 232% – due to a 19% decline in the value of the Rand against the Dollar of the half year. Cash earnings per share in Rand to June 30 grew strongly to 61.1 cents a 49% increase on the year before. The interim dividend has been increased by 50% to 6 cents per share.

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