SANRAL: Profit dips by over R 4 Billion from previous year !!!

[Operator]

Sanral has reported an operating loss of R175.9 million, for the year ended March 2014, from a prior profit of R4 billion in 2013.


http://businesstech.co.za/news/general/70471/massive-loss-for-sanral/

[Bundu]

I hate to say I told you so, but I told you so.....

Seems like that Inge chick at Sanral was blowing smoke up our arses in Jan14, as expected, when she said: "E-tolls exceed financial expectations, system’s ‘performing well’"

http://www.moneyweb.co.za/moneyweb-south-africa/sanrals-cfo-on-the-money

[luv2ride]

Ah, shame......






NOT!!!!!! Hope they rot in hell!!

[ktmmer]

Wonder if that includes any provision for bad debts?

[punisher]

why are they not being liquidated ?
why isnt that Inge chick being prosecuted for false information , under the companies act ,  or does that not apply to...............

[ADVENTURE HUNTER]

Don't worry goverment will fund them with our taxes, the same old story even with court cases being won against local and central goverment it is not their money but tax money being used.....so they don't worry! Pay you will pay in one form or another.

[Geriatrix]

Its now official, they don't need the toll income to be profitable:





SANRAL: Vusi Mona says SANRAL was not bailed out

http://www.polity.org.za/article/sanral-vusi-mona-says-sanral-was-not-bailed-out-2015-05-06

The government did NOT bail SANRAL out - because it is not necessary.  The opposite impression has been created in some media reports but seems to be based on a misunderstanding. The R12.5 billion allocated by the Treasury through the Department of Transport is merely the annual budget for the national roads agency. In the previous financial year the budget allocation was R10.5 billion. The funds will be used for the 85% of the road network that the national roads agency controls and is not tolled. The other 15% is made up of toll roads, which have to be self-funded. There  is no cross-subsidisation between the funding of tolled roads and non-tolled roads.   “SANRAL is not bankrupt and does not need a bail-out and did not get one. There is a difference between an annual allocation and a bailout,” says the communications manager of the South African National Roads Agency SOC Ltd, Vusi Mona.   Issued by SANRAL

It is our preference that if you wish to share this article with others you should please use the following link:

http://www.polity.org.za/article/sanral-vusi-mona-says-sanral-was-not-bailed-out-2015-05-06

[Tom van Brits]

Ek sien hulle raak hardop vir n ou geldjie:

http://www.iol.co.za/motoring/industry-news/e-tolls-to-stay-but-costs-reduced-1.1861122

[alanB]

The precedent has already been set IMO.

80% of Soweto do not pay a cent for their electricity bills.  And when they they rioted recently Eskom CEO apologises to them publicly even though they are stealing his product.

We should just learn from them.

I'm not suggesting the same sort of thievery.  But the lesson is when a large enough sector of the population gives government the finger, then it becomes very difficult to enforce anything.

Ultimately in a democracy, all governments rely on the cooperation of their people.  Without that cooperation, things get very difficult for them.

[silvrav]

R4bil rand profit......yes cause a lot of roads look like shit and are not being maintaned.

Glad they can now also feel the other side,.

[2StrokeDan]

Its now official, they don't need the toll income to be profitable:





SANRAL: Vusi Mona says SANRAL was not bailed out

http://www.polity.org.za/article/sanral-vusi-mona-says-sanral-was-not-bailed-out-2015-05-06

The government did NOT bail SANRAL out - because it is not necessary.  The opposite impression has been created in some media reports but seems to be based on a misunderstanding. The R12.5 billion allocated by the Treasury through the Department of Transport is merely the annual budget for the national roads agency. In the previous financial year the budget allocation was R10.5 billion. The funds will be used for the 85% of the road network that the national roads agency controls and is not tolled. The other 15% is made up of toll roads, which have to be self-funded. There  is no cross-subsidisation between the funding of tolled roads and non-tolled roads.   “SANRAL is not bankrupt and does not need a bail-out and did not get one. There is a difference between an annual allocation and a bailout,” says the communications manager of the South African National Roads Agency SOC Ltd, Vusi Mona.   Issued by SANRAL

It is our preference that if you wish to share this article with others you should please use the following link:

http://www.polity.org.za/article/sanral-vusi-mona-says-sanral-was-not-bailed-out-2015-05-06

This is the type of new-SA thing that gets my gut, our taxes go to Dept. of transport for roadwork, yet an entire new "private" band of robbers have tagged onto this budget.