JSE and Nasdaq-listed Grindrod Shipping says its profits improved more than fivefold in its year to end-December. It is also optimistic that it will continue to benefit from strong freight rates as the world struggles with supply-chain disruptions.

Group revenue from continuing operations more than doubled to $455.8m (R6.9bn) in the year to end-December, Grindrod said on Thursday, with profit jumping to $132.6m, from a loss of $35m previously, as it also cashed in on robust demand for commodities...