State-owned rail and port operator Transnet has reported a R3bn loss for the six months to end-September 2020 as a series of phased Covid-19 lockdowns curbed economic activity and reduced demand for rail, container and petroleum pipeline volumes.

Revenue fell 17.3% to R31.96bn in the interim period even as net operating expenses increased 4.4% to R22.1bn due to Transnet’s high proportion of fixed costs...

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