Prague - ČEZ is increasing its lead as the most profitable company in the Czech Republic. The power producer has posted a net profit for the first three quarters of the year worth CZK 41.5 billion, which is 40 percent more than in the same period last year.

Operating revenue for January to September was up 6.7 percent to CZK 131.8 billion. The company is expecting its bottom line at the end of the year will be CZK 48.6 billion, up from just under CZK 43 billion posted in 2008.

Higher share of electricity generated in nuclear plants, growing wholesale power prices and cuts in operating costs are the main reasons behind the solid profit growth.

ČEZ is the largest power producer in central Europe and the eighth-largest energy group in whole Europe.