Interim results for Transnet SOC Ltd shows an increase in revenue by 14,3% in the six months ended 30 September 2013 to R28,5 billion, driving  profit higher by 71,2% while investing R11,2 billion on rejuvenating and expanding infrastructure. This was despite volatile and uncertain economic conditions worldwide.

The growth in income for the period under review was driven by a 26% jump in containers and automotive on rail and by buoyant mineral and chrome volumes. The latter increased by 12%. The performance in containers and automotive on rail far exceeds economic growth, which according to Transnet is because it is winning both market share and the battle to shift rail-friendly cargo off South Africa’s roads.

At the ports, containers increased by an impressive 9,4% in the period under review despite various challenges, including teething problems associated with the newly installed tandem lift cranes in Durban.

The solid performance during the first half of the year enabled Transnet to continue executing its capital investment programme despite slower demand due to lower global economic expectations.