Mobile phones prop up Vivendi turnover

29th July 2004, Comments 0 comments

PARIS, July 29 (AFP) - French media group Vivendi Universal on Thursday reported a 12 percent fall in turnover in the second quarter of the year, but said the figure was up on a comparable asset base thanks to its telecoms division, and its stock rose on the Paris market.

PARIS, July 29 (AFP) - French media group Vivendi Universal on Thursday reported a 12 percent fall in turnover in the second quarter of the year, but said the figure was up on a comparable asset base thanks to its telecoms division, and its stock rose on the Paris market.

Group turnover was EUR 5.418 billion (USD 6.5 billion), an increase of 5.0 percent on the second quarter of last year on a comparable asset base, it said in a statement.

Turnover was down 8.0 percent to EUR 2.978 billion in the media division, where the television pay channel Canal Plus dropped 13 percent to EUR 916 million.

But for the first time in three years the channel reported an increase in the number of subscribers, to 4.88 million in June and on a comparable asset base turnover was up 4.0 percent, it said.

The telecommunications subsidiary SFR-Cegetel saw turnover rise 12 percent to EUR 2.055 billion, thanks largely to an 11-percent increase in activity by its mobile phone division.

Vivendi's stock was up 0.48 percent to EUR 20.85 in early trading here.

© AFP

Subject: French news

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