Eskom Profit Surges as International Power Sales Climb 12%
- Sales volumes drop 0.8%; sale to industrial users down 6.2%
- South African utility secured 57% of funding for this year
This article is for subscribers only.
Eskom Holdings SOC Ltd. said full-year profit surged as revenue increased 11 percent and the South African power utility was able to avert supply cuts, raising sales to neighboring countries that have shortages.
Profit was 4.6 billion rand ($311 million) in the year to March 31 from 200 million rand 12 months earlier, the Johannesburg-based company said in a statement handed to reporters in Johannesburg Tuesday. The previous year’s figure was hit by a fair-value loss on derivatives, which wasn’t repeated in 2016.