Transnet volumes, revenue up, but falls short of recovery targets

State-owned Transnet has reported a 1.5% year-on-year improvement in the total rail volumes reaching 151.7-million tonnes at the end of March 2024, showcasing improvement in operational performance. However, this figure still fell 1.8% short of Transnet’s recovery plan target of 154.4-million tonnes for the 2023/24 financial year. Speaking at a media briefing at the Transnet Freight Rail headquarters in Johannesburg on Friday, Transnet group CEO Michelle Phillips acknowledged that while several metrics indicate positive momentum, challenges persist.