Czech CEZ Q3 net profit rises less than forecast

PRAGUE, Nov 15 (Reuters) - CEZ<CEZPsp.PR>, central Europe's largest utility group, posted a weaker-than-expected 51 percent rise in third-quarter net profit on Wednesday on the back of a sharp increase in electricity prices and foreign acquisitions.

The Czech-based company's net profit, excluding minorities, was 5.22 billion crowns ($238.5 million) for July-September, lagging the average forecast of 5.59 billion crowns in a Reuters poll of nine analysts.

CEZ, the EU member's most profitable company, has been on the acquisition trail in central and eastern Europe, buying power generation plants and distribution assets in Poland, Bulgaria and Romania. ((Reporting by Marek Petrus, editing by Edmund Klamann; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477)) ($1=21.89 Czech Crown)

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Keywords: UTILITIES CZECH CEZ