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South Africa's Eskom Reports 37% Higher Half-Year Profit

JOHANNESBURG, Nov 28 (Reuters) - South Africa's state power utility Eskom on Friday reported profit after tax of 24.3 billion rand ($1.42 billion) for the six months to the end of September this year, roughly 37% higher than the same period last year.

In September Eskom reported its first full-year profit in eight years after a sudden turnaround in the performance of its coal-fired power station fleet.

The company's power cuts, which have held back Africa's biggest economy for more than a decade, have become much less frequent since last year.

Eskom said in a presentation on Friday that power cuts were only implemented on four days of the six-month period covered by its latest results.

($1 = 17.1260 rand)

Reporting by Anathi Madubela; ERditing by Alexander Winning

Source: Reuters


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