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Eskom reports profit for first half of the year


Eskom has reported a R12.6b profit for the first half of the year.

Releasing the parastatal's interim results in Johannesburg on Tuesday, CEO, Brian Dames, said profit for the second half of the year would be much lower than the first half.

He says that's because repairs and maintenance were scheduled for the second half of the year and full year profit could be below that of the first half.

Earlier, Eskom's outgoing financial director Paul O'Flaherty said they're predicting that sales will decline.

The parastatal has also applied to the energy regulator to hike tariffs by 16% a year for the next five years.