Česká Zbrojovka profits fall, shares worth up to CZK 4 billion to be sold

The net profits of one of the Czech Republic’s largest arms manufacturers, Česká Zbrojovka, experienced a year-on-year fall of 23.5 percent in the first-half of 2020. However, the company still registered profits worth CZK 382 million. While revenue and small arms sales actually grew, the fall was caused by the change in currency value, which led to financial losses, the company states in its press release.

Česká Zbrojovka also announced that it intends to offer shares worth CZK 4 billion for sale on the Prague Stock Exchange. The exact date when these shares will become available has not yet been announced and the move first has to be approved by the Czech National Bank.