Transport parastatal Transnet on Monday released what it called satisfactory results for the six months to September 30, boosted by a strong performance by its ports division, but dampened by losses at South African Airways.

Transnet reported an eight percent rise in revenue to R24.2-billion during the period, while net profit rose to R1.7-billion from a previous loss of R73-million. Operating profit slipped 4.72 percent to R3.1-billion.

Core business units Spoornet, Petronet and Portnet improved profitability, but South African Airways reported a R240-million operating loss. This was blamed on the 42 percent increase in fuel prices, as well as a strike and the delayed introduction of new routes.

Gearing improved from 73 percent to 58 percent.

The turnaround of Transnet is continuing, the parastatal said. CEO Maria Ramos said they were "satisfied with these results. They show that the platform built during the full year financials is solid to sustain the positive performance going forward".

SA COMPANIES & BUSINESS INFO Trying to find your way around South Africa's corporate landscape? Looking for a info on a particular company or sector? After the latest business, financial or market news? Here's a quick directory of links to get you started.

MORE BUSINESS NEWS Transnet reports R1.7bn net profit SAA to pay R45m fine HCI gets more of Johnnic G'Fields to proceed with Peru project Public losing R2bn a year on policies New vehicle sales continue to soar Petrol to drop on Wednesday Full takeover for Mittal Steel SA? Gold Fields to buy Bolivar shares Crackdown on microlenders Cosatu celebrates 20 years Old Mutual changes Skandia offer Imperial announces R150m acquisition Sekunjalo soars on good results Manufacturing falls sharply