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Indiaexportnews.com

South Africa's Transnet profit down 25pc

  31.10.2014    

South Africa's state-run transport giant Transnet posted a 25 per cent year first half year-on-year profit loss to ZAR2.1 billion (US$191.9 million) in the face of rising finance costs and impairments, Reuters reports.
The company said it spent ZAR18.7 billion in the six months to September upgrading rail infrastructure, adding that its expenditure over three years was ZAR77.9 billion.
Transnet said it spent ZAR6.3 billion on buying locomotives to export coal and general freight.
The group is three years into a seven-year ZAR312.2 billion investment programme, a third of which will be funded from the markets, with the bulk raised from company's operations.



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