{
  "id": 6598202,
  "title": "Transnet posts profit for the first time in four years, but still long way to go to recovery",
  "url": "https://urgent.news/2026/09/10/transnet-posts-profit-for-the-first-time-in-four-years-but-still-long",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T13:41:57.000Z",
  "source": {
    "name": "The Citizen",
    "slug": "the-citizen",
    "url": "https://www.citizen.co.za/business/transnet-posts-profit-for-the-first-time-in-four-years-but-still-long-way-to-go-to-recovery/"
  },
  "original_language": "en",
  "account": "South African state-owned logistics firm Transnet has posted its first profit in four years, marking a significant turnaround. The company reported a R4.6 billion profit for the year ended 31 March 2026, a 100% improvement from the previous year's R1.9 billion loss. Transnet CEO Michelle Phillips acknowledged that the company still has a long way to go to achieve full recovery, citing ongoing challenges such as under-investment in the rail network and theft-related issues. Revenue grew by 7.1% to R88.6 billion, driven by tariff increases and volume gains. Transnet achieved this despite difficulties in the rail business, including declining reliability of its fleet and theft/vandalism. The company also received an unqualified audit from the Auditor-General, confirming the accuracy of its financial statements. In a strategic move, Transnet established Durban Gateway Terminal (DGT) and disposed of a majority stake to International Container Terminal Services Inc. (ICTSI) for R10.5 billion, resulting in a R12.5 billion profit from the disposal. This deal transferred management control of DGT to ICTSI, and Transnet now holds a 50.001% share in the company. The Auditor-General expressed satisfaction with the audit process, noting that it was thorough enough to provide a reliable basis for the company's financial statements. Looking ahead, Transnet is fully implementing its Reinvent for Growth (R4G) strategy, aiming to build on recent gains and position itself for long-term sustainability in a competitive logistics market.",
  "summary": "The company declared a loss of R1.9 billion last year.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Citizen",
        "title": "In case you missed it: Zuma disbands task team again | ‘Jou ma se ****’ – Majodina | Transnet posts profit for 1st time in 4 years",
        "url": "https://urgent.news/2026/09/10/in-case-you-missed-it-zuma-disbands-task-team-again-jou-ma-se",
        "published": "2026-09-10T18:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}