Eskom to report interim results

Tuesday, October 19, 2010

Pretoria - For the first time in its history, Eskom will publish interim financial results for the first six months ended 30 September 2010.

"We want to comply with the highest standards of transparency and accountability," said Eskom's finance director Paul O'Flaherty on Tuesday.

It will be the first time that Eskom reports interim results - a move which is in line with the parastatal's commitment to provide all stakeholders with more timely information on its financial situation and operating performance.

The results will be published on 23 November.

O'Flaherty said that though Eskom is a state owned enterprise that is required to report financial results once a year it will from then on report to the market twice a year like listed companies.

In its reviewed preliminary annual results released in June, the parastatal announced that it had returned to profitability reporting a net profit of R3.6 billion for the year ending 31 March.

The improved results follow on a net loss of R9.7 billion it recorded last year.