Czech power company CEZ reports $984 million in profit in first three quarters of 2024

PRAGUE (AP) — The Czech power company CEZ on Tuesday reported net profit of 23.4 billion Czech crowns ($984 million) in the first three quarters of the year, 6.4 billion lower than the same period last year. CEZ attributed the 27.3% decline to lower earnings in trading and mining. The company is preparing to build two new nuclear reactors and recently signed an agreement with Britain’s Rolls-Royce SMR to develop and build small modular nuclear reactors. It said it expects net profit for the full year to total 26 billion to 30 billion Czech crowns.