Czech financial group PPF's 2013 profit falls 38 pct

PRAGUE Fri May 30, 2014 3:19am EDT

PRAGUE May 30 (Reuters) - Profit at financial group PPF, owned by the Czech Republic's richest man Petr Kellner, dropped to 450 million euros in 2013 from 727 million in the previous year when the result included proceeds from a major divestment, the company said on Friday.

PPF acquired a 65.9 percent stake in the Czech subsidiary of Spain's Telefonica in January and many analysts say it may try to de-list the shares from the Prague stock exchange.

Revenue at PPF increased by 25 percent to 6.3 billion euros ($8.58 billion) last year, while the value of its assets decreased by 3 percent to 20.9 billion euros, the group said. ($1 = 0.7345 Euros) (Reporting by Robert Muller; editing by Tom Pfeiffer)