Eskom made a profit in the first six months of the year — traditionally its better period — but expects to sink back into a loss for the year to end-March as high debt servicing costs and rising arrears from municipalities erodes its performance.

Speaking at a media briefing on the results with CFO Calib Cassim, CEO André de Ruyter said the state-owned utility’s financial performance had improved across all metrics in the period to end-September. After-tax profit rose to R9.2bn on revenue of R135bn compared with a R216m profit in same period a year earlier, boosted partly by a 15.6% tariff increase...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now