South Africa's Eskom sees loss of more than $800m despite turnaround

Eskom on Wednesday forecast a loss before tax of more than ($800 million) in the current financial year. [Photo: Courtesy]

JOHANNESBURG - South Africa’s struggling state-run power firm Eskom on Wednesday forecast a loss before tax of more than 11.2 billion rand ($800 million) in the current financial year, despite a turnaround plan designed to shore up its finances

Eskom, Africa’s largest public utility, reported a 671 million rand profit in the six months to the end of September but said its performance in the next six months would be hurt by a wage deal with trade unions and greater maintenance costs.