Čtvrtek 28. března 2024, svátek má Soňa
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Lidovky.cz

Komárek’s KKCG group posts record profit

  9:42

Karel Komárek’s KKCG group’s posts Kč 14.5 billion profit in 2010, the investment group’s best result to date

Sale of engineering assets in 2010 contributed to KKCG group’s post tax profit of Kč14.5 billion in 2010, the company’s largest annual result to date. The investment group, which owns the largest Czech oil producer, is now focusing on foreign investments primarily in the oil and gas sector.

Announcing the KKCG’s results for 2010, the group’s spokesman, Dan Plovajko, said the result could not be compared to the previous year due to the selloff of a number of assets including the engineering and machining firms Bonatrans, ŽDB and Kovosvit, and the gas storage and distribution firm SPP Bohemia.

Plovajko said KKCG has paid out Kč 9.4 billion in dividends to shareholders. Karel Komárek is the majority shareholder of the group.

“In terms of consolidated profit and cash flow, last year was exceptionally successful for the KKCG group: We recorded the best economic results [in the company’s] history. Thanks to this the group can implement its long-term strategy of investment and international expansion,” the group’s executive director, Jiří Radoch, said in a statement.

The group’s capital grew by around Kč 2.3 billion to Kč 16.9 billion and the value of its assets amounted to Kč 24.4 billion at the end of the year. In 2010, the group spent Kč 12.3 billion on asset acquisitions, which included buying all shares in Moravské naftové doly (MND) — the largest Czech extractor of crude.

KKCG employs around 3,000 people in some 20 companies. In addition to MND, the group’s assets in Czech Republic include the travel agency Fischer, engineering and machining firm Vítkovice Holding.

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