May 30 (SeeNews) - CEZ Distribution Bulgaria [BUL:3CZ], majority owned by Czech power utility group CEZ, said on Tuesday its consolidated net profit rose to 11.4 million levs in the first quarter of 2017, from 6.6 million levs in the like period of 2016.
Total revenues rose to 122.9 million levs in the January-March period, from 112.3 million levs last year, CEZ Distribution said in a bourse filing.
Total costs rose to 109.9 million levs in the period under review, compared to 105 million levs a year earlier.
Bulgarian media reported earlier this month that CEZ Group had invited four candidates interested in acquiring its assets in Bulgaria to submit binding bids and bank guarantees for their price offers.
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.
CEZ Distribution Bulgaria shares closed 0.74% lower at 269.99 levs in a trading volume of 29 units on the Sofia stock exchange.
(1 euro=1.95583 levs)