State-owned logistics firm Transnet on Friday reported a R1.6bn loss in the six months to September 30 on the back of declining rail, port and pipeline volumes amid higher costs.
Transnet registered a R159m profit during the same period last year.
Although its revenue rose 8.6% to R39.2bn in the six months thanks to tariff increases for its services, costs rose 9.5% to R25.3bn due to higher payroll, electricity and security expenses.
Reuters
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