Vivendi posts EUR 2.61 billion annual net profit

8th March 2007, Comments 0 comments

PARIS, March 7, 2007 (AFP) - French media and telecommunications giant Vivendi on Wednesdsay reported full-year adjusted net profit of 2.61 billion euros (3.43 billion dollars), up 17.9 percent from a year earlier.


PARIS, March 7, 2007 (AFP) - French media and telecommunications giant Vivendi on Wednesdsay reported full-year adjusted net profit of 2.61 billion euros (3.43 billion dollars), up 17.9 percent from a year earlier.

The 2006 result exceeded guidance and a consensus forecast of 2.58 billion euros, amid strong gains in its main business areas.

The company predicted a further improvement in 2007, despite anticipated exceptional charges, with an adjusted net profit of at least 2.7 billion euros.

It plans a 20 percent rise in its full-year dividend payout for 2006 to 1.20 euros.

Vivendi chief executive Jean-Bernard Levy said all of the company's businesses were developing on track and exceeding its forecasts, and that it wants to strengthen them with targeted acquisitions that will be balanced between telecoms and entertainment media.

He told reporters that Vivendi was interested in seizing opportunities to buy out minority stakes in its businesses such as its mobile phone subsidiary SFR and television company Canal Plus if they arise, but had no immediate plans to launch buyout offers.

He also said Vivendi would not sell its stake in US entertainment group NBC Universal this year as the business is "doing well," but may in the future.

Copyright AFP

Subject: French news

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