CEZ Quarterly Profit Drops 16% on Falling Electricity Prices
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CEZ AS, the Czech Republic’s largest electricity company, said second-quarter earnings fell 16 percent as power prices dropped and production declined.
Net income slid to 10.8 billion koruna ($556 million) from 12.8 billion koruna a year earlier, the Prague-based company said today in a statement. That matched the average estimate of 13 analysts surveyed by Bloomberg.