PZU Group - costs and revenues down, but profit soars

In the first half of 2003, the net profit generated by the PZU insurance gr oup increased to zł. 794.6 million from zł. 696.1 million in the respective period of last year, the company said in an announcement. The total operati onal costs of the group amounted to zł. 6,481 million and were 3.6% lower t han envisaged. The revenues from deposits stood at zł. 1,408.5 million. Aft er the second quarter, PZU has collected zł. 4,034.8 million in contributio ns, which is 3.9% less than in the first half of last year. After second qu arter, PZU Życie posted a net profit of zł. 279.7 million, which is 14.4% h igher than in the first half of last year. The net profit of PZU PTE amount ed to zł. 6 million. (Puls Biznesu, p. 4) A.Z.