Eskom's provisional profit down 89% compared to last year

Eskom's first-half profit dropped 89 percent, and the state-owned electricity company's situation is expected to worsen over the next six months, said chairman Jabu Mabuza.

Profits dropped to Rs 671 billion in the September-to-September period from Rs 6.3 billion a year ago to Rs 11.2 billion for financial costs, Mabuza said in a statement. 39, a presentation in Johannesburg on Wednesday.

The company's debt burden is "incredibly high," said Mabuza, even as it reported improved liquidity and announced that 73 percent of funding for 2018-2019 was secure.

Acting Chief Financial Officer Calib Cbadim has been appointed to this position on a permanent basis.

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