Transnet revenues up 5.3% year-over-year

Transnet has announced revenue and EBITDA increases for the financial year ended March 31, 2017. It produced turnover of ZAR*65.5bn, up 5.3% year-over-year. EBITDA stood at ZAR27.6bn, up 5.0% year-over-year.

Transnet said volume increases in certain areas had been responsible for its positive results. It carried more general freight (up 4.9%), export coal volumes (up 2.4%) and automotive and container volumes (up 24.3%) than it did in 2015.

The company said price reprieves in excess of ZAR600m, needed to stimulate the economy and help struggling customers, partially offset its results.

Source: Transnet

*€=ZAR14.064 /$=ZAR13.154