South Africa's Transnet: rail volumes rise in latest year but below target

Reuters Images/Siphiwe Sibeko

Its chief executive said on Friday

Nqobile Dludla, Reuters News

April 26, 2024

PHOTO

South African state logistics group Transnet's total rail volumes increased to 151.7 million tonnes in the financial year that ended in March this year, up from 149.5 million tonnes in the previous year, its chief executive said on Friday.

A presentation by CEO Michelle Phillips showed the latest year's rail volumes were about 1.8% below the company's recovery plan target of 154.4 million tonnes.

The presentation also showed Transnet's revenue rose 12.8% in 2023/24 from the financial year before.

(Reporting by Nqobile Dludla Editing by Alexander Winning)

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