Czech electricity group CEZ, 70-percent owned by the state, reported on Tuesday a 24.0-percent rise in first-quarter net profit to 17.9 billion koruna (696 million euros, $913 million).

This was the second-highest profit in the company's history, the firm said in a statement.

Sales by the business, Ceske Energeticke Zavody, fell by 1.0 percent from the comparable figure 12 months earlier to 60 billion koruna.

Earnings before interest, tax, depreciation and amortisation rose by 8.0 percent to 28.3 billion koruna.

CEZ operates in about 10 countries, mainly in eastern and central Europe.

But its licence to operate in Albania was withdrawn recently.

And the company faces problems in Bulgaria where the energy regulating body (DAKEVR) launched action against it in April. This followed several demonstrations by people against what they consider to be the high price of energy.

In 2012, CEZ reported a net profit for the year of 40.2 billion koruna.

The company's interests include the operation of two Czech nuclear power stations at Dukovany in the southeast of the country and at Temelin in the southwest.

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CEZ

EPR