CEZ Distribution Bulgaria's H1 cons net profit rises

CEZ Distribution Bulgaria's H1 cons net profit rises CEZ

SOFIA (Bulgaria), August 30 (SeeNews) - CEZ Distribution Bulgaria [BUL:3CZ], majority owned by Czech power utility group CEZ, said on Wednesday its consolidated net profit rose to 20.3 million levs ($12.4 million/10.4 million euro) in the first half of 2017, from 12.3 million levs in the like period of 2016.

Total revenues rose to 220.4 million levs in January-June, from 199.4 million levs in the first half of last year, CEZ Distribution said in a bourse filing.

Operating profit grew to 22.9 million levs in the first six months of 2017, from 14.3 million levs in the same period last year.

CEZ Group said earlier this month it has received binding bids for its assets in Bulgaria from several candidates and the were being evaluated.

CEZ Group assets in Bulgaria include CEZ Distribution Bulgaria, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.

CEZ Distribution Bulgaria is 67%-owned by CEZ Group. It operates in the Sofia region and parts of western and northern Bulgaria and is licensed for the transmission and distribution of electricity and the operation of the distribution grid.

(1 euro=1.95583 levs)

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