Eskom H1 profits down 34 pct, new board aims to stabilise firm

JOHANNESBURG (Reuters) – South African state-run power utility Eskom said on Tuesday interim profits were down 34 percent to 6 billion rand ($504 million) on the back of declining sales and higher finance costs.

Eskom, which has been embroiled in a governance crisis and allegations of undue influence in awarding tenders, said in a statement it would address governance concerns and stabilise the firm through its new board.

($1 = 11.8966 rand)

(Reporting by Alexander Winning; Writing by Tanisha Heiberg; Editing by James Macharia)

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