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ČEZ loses steam

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The net profit of energy group ČEZ sank 44% year on year to CZK 9.9 billion in the first quarter of this year, partly due to lower electricity prices, and sales dropped 11% to CZK 53.2 billion, ČEZ announced on its website today. The year-on-year comparison of profit was also negatively influenced by the extraordinary income from trading in emission allowances in the first quarter of 2013 and the revenue from sale of power plant Chvaletice.

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