TMCnet News
PPF's net profit down at Kc9.6bn, assets at record Kc672bn(Czech News Agency Via Acquire Media NewsEdge) Prague, Oct 31 (CTK) Investment group PPF saw net profit fall by 9 percent yr/yr to EUR346m (Kc9.6bn) over economic slowdown in Russia, PPF told CTK in a press release today. The assets of the group, owned by the richest Czech, Petr Kellner, posted a rise of 16 percent to a record EUR24.19bn (Kc672bn). "Economic activity in Russia is slowing down which is affecting financial results (of PPF) but our investment activity is growing," PPF CFO Katerina Jiraskova said. "We are growing dynamically mainly in Asia but also in the Czech Republic and Western Europe," she said. The most important deals during the period, both taking place in the Czech Republic, were the purchase of a majority in mobile operator O2 and the sale of a stake in energy group EPH, Jiraskova said. PPF has been investing in banking, insurance, financial and telecoms services, real estate, mineral mining, agriculture, retail services and biotechnologies. The group has been active in Europe, Russia, Asia and the USA. vr/er |