Grindrod Ltd Unsp/Adr (GRDLY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and a very warm welcome to Gringard's 2026 Interim Financial Results presentation. My name is Reshmi Soni from Investor Relations. We are delighted to welcome our analysts, shareholders, and members of our management team. A special welcome to our non-executive directors joining us online. In today's session, we'll cover the performance highlights, a financial and divisional overview, followed by an outlook. We will thereafter open the floor for your questions. On your screen, you'll see a question box. Please use that to send us your questions this morning. With us this morning, Kwazi Mabaso, our Group CEO, and Fatima Ali, our Group CFO. Before we begin, please take note of the forward-looking statement on your screen. I will allow you to peruse this at your own time. With that, I hand over to Kwasi. Good morning and thank you for joining us today. The first half showed the strength of our strategy, the resilience of our asset base, and the quality of the growth opportunities ahead of us. I'll begin with the macro context shaping our markets. Global commodity markets were volatile through the first half, shaped by the Iran-US conflict, sharp swings in oil and gas prices, and shifting Chinese demand. The global economy is projected to grow around 3% in 2026, constrained by trade tensions, tariffs and softer commodity prices towards the period end. Breaking that down for the economies that matter to us as Green Road. China is expected to grow 4.6% easing from 2025 as property sector weakness and global uncertainty offset continued fiscal and credit stimulus. India continues to be the standout, projected at 6.4% underpinned by resilient private consumption and increasingly relevant to our export demand. South Africa is anticipated at 1.1% supported by stru...