Transnet reports interim profit despite lower volumes
The interim results of the state-owned freight and logistics group do not include October when a strike worsened existing bottlenecks
30 December 2022 - 03:49
State-owned freight and logistics group Transnet is back in the black, according to its latest interim results, but it has warned it is battling myriad challenges including load-shedding, vandalism, fuel and cable theft, bottlenecks and locomotive shortages.
The company reported a profit of R159m in its half-year to end-September from a loss of R78m a year ago. However, headline earnings, a profit measure that strips out impairments and one-off items, more than halved year on year to R254m...
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