9.2 Financial performance Transnet's revenue for the year ended 31 March 2011 had increased from R35.6 billion to R37.9 billion. The increase in revenue was attributed to an increase in volumes during the year and an effective yield and mix management programme, despite a protracted industrial strike action during May 2010. Performance improved for four divisions compared to the previous financial year except for the pipeline division whose revenue decreased by 3,6% to R1.13 billion from R1.17 billion. The Group made a profit of R4.1 billion, and in the same year government had guaranteed certain borrowings for Transnet to the amount of R9.5 billion.