Business

Czech Auto Sales Continue Downward Slide In May

In the first five months of the year, sales of new passenger cars fell by 30.3 percent year-on-year due to a drop in demand because of the coronavirus pandemic. In May alone, sales declined by 44.4 percent year-on-year. The Association of Car Importers (SDA) announced today. Unlike April, when dealerships were closed for most of […]

Avast Poised To Join FTSE 100 Amid Quarterly Reshuffle

Analysts expect antivirus software maker Avast to join the FTSE 100 index on the London Stock Exchange. Carnival and easyJet are among the companies set to depart the FTSE 100. FTSE Russell will announce the quarterly reshuffle of the composition of the index today. Avast was fAvast was founded in 1988 by Czech researchers Eduard […]

PPF Group’s 2019 Net Profit Up 16% to €1B

PPF Group’s net profit rose by 16 percent to one billion euros in 2019. The Group’s total assets increased by eight percent to EUR 48.6 billion, PPF reports. “2019 was another successful year for the Group. All key assets in consumer finance, banking, telecommunications and real estate have again shown stable profitability. The main driver […]

TPCA Returns To Full Production

Toyota Peugeot Citroën Automobile (TPCA) returned to full capacity this week, producing about 900 cars per day. Dozens of hygienic measures accompany the resumption of production. At the entrance to the plant, there are thermal cameras that monitor the temperature of employees. If the camera detects a possible elevated temperature in any of them, it […]

Petr Kellner’s Bet On China Backfiring: Bloomberg

Petr Kellner’s expansion in China was meant to turbo-charge one of eastern Europe’s biggest fortunes. Instead, the Czech billionaire saw a listing of his consumer lender collapse, followed by a fight to contain the impact of the coronavirus pandemic. Bloomberg writes. In November, Kellner’s Home Credit canceled a planned initial public offering (IPO) in Hong […]

Meopta Optika Cuts 200 More Jobs

Meopta Optika plans to make two hundred more employees redundant due to a decline in orders. The company initially laid off two hundred staff in early May. The latest round of layoffs brings total job losses to four hundred or twenty percent of its two thousand employees. Meopta Optika is a manufacturer of optical, optomechanical […]

agrofert andrej babis
Agrofert Sees Revenue And Profits Surge

Agrofert’s consolidated profits nearly tripled year-on-year, to CZK 4.48 billion, compared to CZK 1.67 billion the previous year. Consolidated revenues grew by 4.54 billion to 162 billion crowns last year. The group’s performance improved thanks to growth in its chemical segment. The Agrofert Group is the largest company in the Czech agriculture and food industries. […]

TPCA Resumes Production

Toyota Peugeot Citroën Automobile (TPCA) resumed production today after a two-month shutdown. The company will return to full capacity on Friday, a TPCA spokesman said. TPCA will operate both shifts, and all employees will return to work. Dozens of new safety measures accompany the resumption of production. Today, all roughly 2,500 employees will return to […]