UPDATE 1-Czech CEZ profit jumps, raises full-year forecast

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Czech power firm CEZ posted a better-than-expected 61 percent jump in third-quarter net profit and raised its full-year outlook on Thursday, boosting the shares of central Europe's largest listed stock.

CEZ, with market capitalisation of $42.3 billion, said net profit rose to 8.41 billion crowns ($463.4 million) from 5.22 billion a year ago.

A Reuters poll of 10 analysts had forecast net profit at 7.8 billion crowns. CEZ shares jumped 2 percent at the opening bell on the results to 1,350 crowns, outperforming an unchanged market.

"Higher production, growth in wholesale prices, cost savings and results of the group abroad contributed to the (profit) growth," CEZ said.

Earnings before interest, tax, depreciation and amortisation jumped to 16.98 billion crowns from 13.97 billion, beating a forecast of 16.56 billion.

The company raised its 2007 net profit outlook to 41.4 billion crowns, including minority interests, from 35.1 billion, in part due to a 3 billion crown windfall from tax changes.

It raised the profit outlook on a "business as usual" basis, excluding the one-off items, to 36.9 billion crowns.

The firm raised its full-year EBITDA outlook to 73.4 billion, including one-offs, from 70.9 billion. (Reporting by Jan Korselt; writing by Jan Lopatka; Editing by Alan Crosby and Erica Billingham)

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Keywords: CEZ RESULTS/

[PRAGUE/Reuters/Finance.cz]