By: Terence Creamer
State-owned freight logistics group Transnet said on Wednesday that double-digit increases in railed automotive and container volumes help lift revenue for the interim period to September 30, 2014, to a record R30.3-billion. Revenue was 6.4% higher period on period, with railed automotive and container volumes increasing by 14.3%.
However, profit for the period was lower at R2.1-billion (R2.9-billion), owing to a combination of higher depreciation and financing costs and a R653-million impairment charge, which related mainly to the retirement of 26 locomotives during the period. →