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Czech software developer AVG Technologies CZ says 2013 profit rises 12% [IntelliNews - Weekly Reports]
[October 12, 2014]

Czech software developer AVG Technologies CZ says 2013 profit rises 12% [IntelliNews - Weekly Reports]


(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Czech software developer AVG Technologies CZ reported a net profit of CZK 326mn (EUR 11.7mn) in 2013, up 12% on the year despite lower sales, CTK news agency informed citing the company's annual report. The growth softened from a year earlier when the company's profit jumped by 36%.



Sales of the company fell to CZK 2.1bn in 2013 from CZK 3bn the year before mainly due to the fact that part of the firm was singled out into new independent company GAVT CZ. Sales in Czech Republic stood at CZK 159mn.

AVG Technologies CZ is part of Amsterdam-based AVG Technologies. The parent company was set up by Czechs Tomas Hofer and Jan Gritzbach under the name Grisoft in 1991. In 2008 it changed its name to AVG Technologies and now is owned by private equity companies and its headquarters is based in Amsterdam. AVG shares trade on the New York Stock Exchange. The company has offices in the Czech Republic, UK, US, Germany, France, Cyprus, Israel, China and Hong Kong. AVG group has over 177mn clients worldwide.


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