State-owned logistics group Transnet on Thursday reported a R4.6-billion profit for the year to the end of March 2026, its first annual profit in four years.
The freight rail, ports and pipelines group said in a statement that the profit was mainly due to the sale of its Pier 2 terminal and an improvement in rail and pipeline volumes.
The debt-saddled company has held back growth in Africa's biggest economy for years due to equipment shortages and maintenance backlogs.
But its performance has begun to recover, supported by government guarantees that bolstered liquidity and helped avert a potential debt default.
Transnet said its revenues were up 7.1% to R88.6-billion in its latest financial year.
