Business Day Live 10 July 2013.
ELECTRICITY provider Eskom said on Wednesday its net profit fell more than half to R5.18bn as operating costs, mainly coal, shot up 31% in the year ended March 2013. Revenue rose 12% to R128.8bn, but Eskom said operating costs jumped to 54.2c per kilowatt hour, from 41.3c/kWh.
“Revenue growth has been offset by escalating expenditures mainly due to an increase in primary energy costs,” the company’s finance director, Paul O’Flaherty, said in a presentation.
Mr O’Flaherty had resigned and would leave on Wednesday, chairman Zola Tsotsi said…
(Contributor’s note: I wonder if Mr O’Flaherty received a performance bonus on his resignation?)