Transnet in red despite significant revenue growth
NewsTransnet reported a loss for the financial year ending March 2024, despite a revenue increase due to tariff hikes and higher rail and container volumes.
The turmoil and uncertainty at the South African parastatal Transnet continues with the CEO and CFO the latest to leave the company and the trading performance of its core rail and port divisions in disarray. South Africa’s ports are among the most expensive in the world to call at and its freight rail services among the least reliable.
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