South African state-owned logistics group Transnet has reported a wider loss of R2.2-billion in the six months to September 30 on higher costs and operational challenges.
Transnet made a loss of R1.6-billion during the same period last year.
The debt-saddled company has struggled to provide adequate freight rail and port services for years due to equipment shortages and maintenance backlogs.
Chronic underperformance has stifled exports of key commodities such as coal and iron-ore, crimping economic growth in Africa's most industrialised nation.
The logistics firm said its revenue rose 6% to R41.5-billion in the six months thanks to tariff increases in its rail, port and pipeline businesses.
However, higher payroll, security and maintenance expenses drove costs up 10.2% to R27.9-billion.
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