Engineering News ONLINE
25 November 2014
State-owned electricity utility Eskom is forecasting a dramatic slump in profitability for the full-year to March 31, 2015, with CEO Tshediso Matona indicating that its profit is likely to fall to R500-million in 2014/15 from nearly R7.1-billion in 2013/14.
Releasing interim results on Tuesday, Matona indicated, too, that the group was facing serious operational headwinds that, together with its financial constraints, meant that Eskom was in it “most challenging position in living memory”. Read more…