The firm’s revenue was impacted by port and logistics disruptions that “developed rapidly and persisted throughout the reporting period”.
JSE-listed Reunert Group’s financial results for the six-month period ended 31 March reflect the adverse effects of disruptions at South African ports.
It notes that of particular impact were the national port and logistics disruptions that developed rapidly and persisted throughout the reporting period. Reunert notes its management teams responded well to these challenges and managed their operations to meet most customer commitments. In addition, and as guided in the 2023 financial year-end results communication, Reunert says the residential and small commercial battery market became saturated, which resulted in volume and margin compression at the battery storage business and necessitated the business being restructured and refocused to take advantage of the improved large battery market.
Transnet Port Disruptions Electronics Cargo Transport Port And Logistics Disruptions
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