Kevin Mayhew AS THIS issue went to press on Monday morning (July 4), Transnet had just released its results revealing a stunning turnaround in financial performance with attributable profit shifting from a R6.3bn loss in 2004 to R6.8bn in the black on a 6% improvement in turnover. Without going into specifics Group CEO Maria Ramos said all its core divisions – including SAA which dragged down its performance last year – had contributed to the turnaround during the financial year ended March 31. A 28% operating margins increase to 12.9% during the reporting period realised a 35% profit margin increase while operating expenses rose by 2.7% to R40.3bn. Ramos cautioned that the results were pleasing, but the road ahead was still a challenging one to achieve its turnaround strategy. Further comment in next week’s FTW.
