MORWE REGARDS Portnet's budgeted loss as unacceptable.
When I took over I realised that the budget had already been done.
The turnover for the POD in the 2000-2001 year was R1,6 billion and they had budgeted for a R180m loss.
That is unacceptable to me. For the remaining seven months of the financial year the focus will be on breaking even or even coming up with a profit.
In September/October we will start implementing some of the strategic initiatives.
The vision of the POD is that by 2003 we will have independent,
ring-fenced, autonomous businesses that are profitable and viable, run by highly competent people.
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