Czech CEZ Q3 net profit just below market forecast

Thu Nov 12, 2009 8:59am GMT
 
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(Corrects 1st paragraph to show net profit fell not rose, corrects dateline to Nov 12, not 11)

PRAGUE, Nov 12 (Reuters) - Third quarter net profit at Czech power group CEZ (CEZPsp.PR) fell to 12.08 billion crowns ($711.4 million) from 12.30 a year ago, lagging market expectations, the company reported on Thursday.

Analysts in a Reuters poll had expected a net profit of 12.57 billion crowns.

Revenue at central Europe's largest listed company was 42.986 billion crowns, below a forecast for 42.38 billion crowns, and up from 41.40 billion crowns last year.

CEZ backed its full year outlook for net profit before minorities of 50.2 billion crowns and earnings before interest, tax, depreciation and amortisation (EBTIDA) of 90.3 billion. ($1=16.98 Czech Crown) (Reporting by Jan Korselt, writing by Jana Mlcochova, Editing by Michael Kahn)

 

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