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Czech investment group PPF triples profit in 2016
June 5, 2017 / 1:42 PM / in 6 months

Czech investment group PPF triples profit in 2016

PRAGUE, June 5 (Reuters) - Czech investment group PPF, owned by the country’s richest man Petr Kellner, said on Monday its net profit tripled to 1.1 billion euros ($1.24 billion) in 2016, boosted by consumer lender Home Credit’s expansion in Asia.

PPF also said it was helped by a stabilising Russian market.

A third of profit also came from one-off transactions, such as the sale of Russian electronics retailer Eldorado and some real estate properties and projects last year, PPF said.

PPF’s assets surpassed 27 billion euros last year, an increase of 25 percent.

The group is the majority owner of telecoms company O2 Czech Republic. Its portfolio also includes financial services and agriculture firms. ($1 = 0.8886 euros) (Reporting by Robert Muller, editing by Louise Heavens)

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