Czech power giant ČEZ announced a higher than expected first quarter profit of CZK 17.2 billon in spite of lower electricity prices hitting its earnings. The profit figure was CZK 300 million, or 1.7%, lower than for the first three months of 2010 but still came out ahead of analysts’ expectations. Prague-based brokerage Wood & Company said the result was around 10% higher than a consensus of forecasts.
