State-owned logistics group Transnet on Friday reported a smaller loss of R1.9-billion in the financial year to the end of March, down from a R7.3-billion loss in the previous year.
The debt-saddled company has struggled to provide adequate freight rail and port services for years due to equipment shortages and maintenance backlogs.
Transnet's chronic underperformance has stifled exports of key commodities such as coal and iron ore, costing mineral exporters billions of rand in lost revenue, with Kumba Iron Ore and thermal coal exporter Thungela Resources forced to curtail production.
The logistics firm said its revenue rose 7.8% to R82.7-billion in its 2024/25 financial year, thanks to tariff increases and higher rail volumes.
Net operating expenses decreased 4.9% to R52.1-billion, helped by a decline in third-party claims.
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